The nation
MUMBAI: As the Indian rupee plumbs new depths, the currency’s overvaluation relative to the nation’s trading partners has been used as a justification for the relative inaction from policymakers.
There’s evidence now to show this argument is weakening. The nation’s 36-currency real effective exchange rate (REER), was 114.54 in August, a two-year low, and down from 115.32 in July, according to data released on Tuesday.
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