💨 Abstract
Reserve Bank Governor Sanjay Malhotra stated that market forces determine the value of the rupee in relation to the US dollar, and the central bank is not concerned with short-term currency fluctuations. The RBI focuses on the value of the rupee in the medium to long term. A 5% depreciation of the rupee against the US dollar could increase domestic inflation by 30-35 basis points.
Courtesy: theprint.in
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