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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.
short by Ashley Paul / 03:41 pm on 25 Jul
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