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The Economic Times
The Economic Times
National

Arvind Panagariya’s advice to RBI: ‘100 is just a number; let rupee depreciate or reserves will bleed out’

Arvind Panagariya Finance Commission RBI India Oil Reserve Bank of India

Amid concerns over rising oil prices and pressure on the Indian currency, Arvind Panagariya has urged the Reserve Bank of India to allow the rupee to depreciate instead of aggressively defending it with foreign exchange reserves.

In a post on X, the 16th Finance Commission Chairman said the RBI should not allow the “psychology” of the Rs 100-per-dollar mark to dictate policy decisions.

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