RBI: India’s reforms strengthened purchasing power parity
A Reserve Bank of India paper released on 19 August shows that economic openness and a flexible real exchange rate have maintained the purchasing power parity (PPP) of the rupee against foreign currencies.
Between 1993 and 2003, India was involved in a series of far reaching economic reforms to switch over to a market determined exchange rate. The reforms have transforned the Indian economy, creating greater external sector openness and a higher degree of integration with the global economy.
Sun
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