New Delhi, 22/5: Economist Arvind Panagariya has urged the Reserve Bank of India (RBI) not to allow the “psychology of Rs 100 per dollar” determine its policy response, arguing that depreciation is the appropriate response to a rise in oil-related external pressures.
Do not let the psychology of Rs 100 per dollar determine your policy response. 100 is just a number, like 99 and 101. Whether the oil shortage is short-lived or long-lived, the right response at this moment is to let the rupee depreciate,” chairman said
