HomeEconomicsRBI should let rupee devaluate, utilise forex reserves wisely: CEA

RBI should let rupee devaluate, utilise forex reserves wisely: CEA

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  • Chief Economic Advisor V Anantha Nageswaran said that the Reserve Bank of India (RBI) should allow the rupee to depreciate gradually and foreign exchange reserves should be used judiciously.
  • “We should augment foreign exchange reserves and that will help with any contingencies,” Nageswaran added. India’s foreign reserves have fallen from $642 billion to $531 billion.

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