............The RBI was at a loss when the rupee fell to record lows when the FIIs pulled out of the market after the US Fed hinted that it may unwind its accommodative policy sooner than expected. Clearly, Rajan does not want to commit this mistake, especially at a time when the US Fed has started tapering and also hinted at interest rate increases. So the RBI is now buying dollars to spruce up its reserves. But apart from this, there is one more reason...........
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