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India's Forex Reserves Aren't the Safety Net You Think
In this episode of How India's Economy Works, host Puja Mehra speaks with economist Renu Kohli, formerly at the Reserve Bank of India and the IMF and currently senior fellow at the Centre for Social and Economic Progress (CSEP). They talk about the recent depreciation of the rupee and why this episode may be different from previous currency shocks. Despite India's large foreign exchange reserves, the rupee has faced sustained pressure. Why?
Renu Kohli argues that the deeper issue lies not in India's trade balance but in the drying up of foreign capital inflows. She explains the difference…
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