Fischer suggests managed floating currency system

INDIA - The Indian monetary policy of not trying to peg a particular value for the rupee was good economics, Stanley Fischer said here today. The former first deputy managing director of the International Monetary Fund was speaking at a seminar organised by Indian Council for Research in International Economic Relations.

Fischer said during his tenure at the IMF, all the eight countries which experienced financial crises had pegged exchange rates. He said while there was no guarantee that

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