RBI's Mohan on inflows and the rupee
Large volumes of private inflows and export earnings have the potential to over-valuate India's currency, said Rakesh Mohan, a deputy governor of the Reserve Bank of India.
Mohan said that the current exchange-rate management strategy, which is based on reserves build-up and sterilisation, might not work forever. The deputy explained that the policy may fail to work in future as, besides remittances inflows and software exports income, the Indian economy was attracting private capital due to
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