Study says rupee almost pegged to dollar

A study presented to the Singapore Economic Review Conference on Friday 5 August suggests the Indian rupee is virtually pegged to the US dollar, despite the RBI saying it adopts a "managed float" for the currency.

Research by Tony Cavoli of the University of Adelaide and Ramkishen S. Rajan from Singapore's Lee Kuan Yew School of Public Policy suggests that the Reserve Bank of India (RBI) guides the rupee's exchange rate against the U.S. dollar.

The study confirmed the official position of Singa

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