...It is interesting that the RBI's communications about a somewhat hands-off approach or policy with respect to the dollar /rupee market has not been assimilated well. Be it as it may, it may well pay for the corporate sector to “listen” to RBI communications on this subject more closely in the future. Indeed, the RBI has been quite consistent in stating that it does not target any particular rate level or range for the rupee. This message has been particularly drilled through in the past couple of years at every available opportunity.....
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