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

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RBI's Policy Stance

Medium Term versus Short Term

The Reserve Bank of India has in its attempt to control the exchange rate volatility of the rupee perplexed the market. The short-term measures announced to limit money market liquidity went against its accommodative medium-term stance, causing considerable uncertainty in the market. In hindsight, they seem to have hurt the financial system as a whole.

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