RBI
has been found very cautious in maintaining the exchange rate stability
but its hand are tied and cannot do much to improve the fundamentals of
the economy which are dependent on the administrative action and
economic reforms from the Govt.GDP growth Inflation Fiscal deficit, and
Current account deficit etc are on the wrong side and RBI has been doing
its best to pep up these but nothing happens from the Govt side. With
all handicaps, the stability of the rupee in the range Rs 53-54 will
hope to be maintained as per the economic data. Dr T.V.Gopalakrishnan (This comment appeared in et dated 2/4/13 in response to anarticle India facing the rupee dilemma)
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