IMF urges India to let rupee move as first defence
An IMF official says India should let its exchange rate move as the first line of defence in the ongoing shock. A related report says the IMF gives the same advice on the oil shock.
ContextContext: The IMF, or International Monetary Fund, advises countries on economic policy. Oil is a major import for India, so higher global crude prices raise the import bill and put pressure on the rupee.
Read at Reuters
Burning Potato score: 30%