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Business News/ Market / Stock-market-news/  India may give freer rein to rupee after making into US forex list
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India may give freer rein to rupee after making into US forex list

Analysts say India's addition to the US treasury's monitoring list for currency manipulation makes it more likely the RBI will give freer rein to the rupee when it rises against the dollar

The rupee has been the second-worst performing Asian currency this year, dropping 2.4% against the dollar, after strengthening 6.4% in 2017.Premium
The rupee has been the second-worst performing Asian currency this year, dropping 2.4% against the dollar, after strengthening 6.4% in 2017.

India’s addition to the US treasury’s monitoring list for currency manipulation makes it more likely the Reserve Bank of India (RBI) will give freer rein to the rupee when it rises against the dollar, analysts say.

India increased its purchases of foreign currency last year and has a “significant" trade surplus with the US, the treasury noted in its semi-annual report on foreign-exchange practices released in Washington on Friday.

The rupee has been the second-worst performing Asian currency this year, dropping 2.4% against the dollar, after strengthening 6.4% in 2017.

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Published: 16 Apr 2018, 09:55 PM IST
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