.........“India has generally been a current account deficit country. In view of the large current account deficit, the exchange rate of the rupee is susceptible to the influence of large capital movements, especially during crisis periods,” said G Padmanabhan, Executive Director, RBI in Singapore on Friday. According to Padmanabhan, this does not mean that the country does not aspire to see the rupee as an international currency, particularly as we increase global integration through trade and investment channels.................
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