ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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RBI Pays a Stiff Price

A huge amount of dollars will be flowing out of the country in the coming weeks as non-resident Indians redeem the deposits they made three years ago under an ill-conceived special scheme to shore up the external value of the rupee. The new governor of the Reserve Bank of India should resist pressures to devalue the Indian currency.

RBI Pays a Stiff Price: Hot Money Worth $34 Billion Will Be Flowing Out of India

A huge amount of dollars will be flowing out of the country in the coming weeks as non-resident Indians redeem the deposits they made three years ago under an ill-conceived special scheme to shore up the external value of the rupee. The new governor of the Reserve Bank of India should resist pressures to devalue the Indian currency.
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