4 reasons to let rupee be

Nifty and the rupee are the two most important numbers telling us how India is faring. We may not like the message, but we should not attack the messenger. At a time like this, what India needs most is risk-taking speculative capital: blocking this capital is not in our interests. We are a mostlyopen middle-income economy with a floating exchange rate — but our policymaking capacity is still designed for the old India.

Read Full Story>>