Rupee at present level is well corrected, gaining stability: C Rangarajan
As per Prime Minister’s Economic Advisory Council Chairman C Rangarajan, the rupee at the current level is “well corrected” and stability is returning to the forex market, amidst volatility in the exchange value of the local currency.
The rupee has recuperated to 63 level after plunging its life-time low of 68.85 towards August-end. As per C Rangarajan rupee will strengthen with increase in capital inflows and fall in Current Account Deficit (CAD).
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