Get the rupee off this roller-coaster

......In his recent address to the annual forex assembly of the Forex Association of India, G. Padmanabhan, Executive Director, Reserve Bank of India talked about the inadequate response of companies to forex fluctuation, misuse of hedging facilities by companies and banks and the growing clout of currency futures segment. Mr Padmanabhan reiterated the central bank’s view that a volatile rupee is the ‘new normal’ and corporate India has to learn to live with it. But most companies have not made optimal use of the hedging instruments available......

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