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Rupee breaks above 81, policy challenge: let it find its value or burn forex, hike rates

As the the rupee broke the 81 mark against the US dollar Intraday Friday, policymakers in New Delhi face a dilemma, with the Reserve Bank of India (RBI) burning foreign exchange reserves at a blistering pace this calendar year to prevent exchange rate volatility – an intervention that many in the market think is to …

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