Monday, August 26, 2013

Inside Information behind the collapse of rupee

........According to the research done by an analyst and his associates of sensitive data, "The run on the rupee began four months ago after market players got private assurances that neither the Finance Ministry nor the RBI would react vigorously to a steep fall in the value of the rupee." Since then, the officer alleged, "These speculators have been in daily contact not only with intermediaries but often with policymakers themselves to get inside information on measures to be followed." But officials of the Finance Ministry, RBI and the Commerce Ministry are clear that this charge is false, and that "no senior official would ever leak sensitive information except to an authorised source"........

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