Indian rupee

“Another important thing which many people may not have noted, but I have indicated in the book is, this devaluation of the rupee was not done by the government. It was done by the Reserve Bank.”

“The exchange rate of the, that is the value of the rupee in terms of the foreign currency, was determined by the Eruso Bank on every working day. And this is, ah, therefore the exchange rate was not determined by the, in the market, so to say.”

“Having done that, I actually have assessed that if India grows at eight percent, the rupee will actually depreciate by about half a percent per annum.”

“From 2016 onwards, the rupee has depreciated by actually lower than previously. As I said earlier, it used to be featured at about three and a half percent. It has appreciated at about two percent, not the half”