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RBI correct to use forex reserves to tackle Rupee volatility: EAC member
short by Ashley Paul / on Monday, 25 July, 2022
Sanjeev Sanyal, a member of Economic Advisory Council (EAC) to the Prime Minister, said RBI is "correct to use" foreign exchange reserves to tackle Rupee's volatility. "There's no point targeting an INR/USD level when USD is appreciating against all other [major currencies]," Sanyal said. "We need to maintain overall macro-stability and allow the cycle to play itself out," he added.
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