Arvind Panagariya Advises RBI to Allow Rupee Depreciation Beyond ₹100 Mark
Shifting Perspectives on Currency Valuation Arvind Panagariya, Chairman of the 16th Finance Commission, recently urged the Reserve Bank of India (RBI) to allow the Indian rupee to depreciate past the psychologically significant threshold of ₹100 per U.S. dollar. Speaking amid market fluctuations that saw the currency trade near the 97-per-dollar mark, Panagariya argued that the…