Before and after he took over as the 23rd governor of the Reserve Bank of India, Raghuram Rajan has been tirelessly saying that he doesn’t have a magic wand. But the market seems to be banking precisely on the opposite. The Rajan magic is indeed working, and how. Till a week back, the rupee had lost about 20% against the dollar in the financial year and for many, there was no end in sight as the currency touched record lows almost every other day.............
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