Reserve Bank of India currency measures may have limited impact on rupee
The Reserve Bank of India (RBI) has undertaken several measures to prop up the currency indirectly through the reduction of gold imports and access to the central bank's liquidity facility, but market participants fear unintended consequences and limited bearing on the direction of the rupee.
Over the course of this week, the RBI has attempted to rein in fundamental weakness in the currency, which has been one of the worst performers this quarter following a global pull out of dollar liquidity
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