Rupee@100: Price of dollar overdependence
When the rupee crossed ₹80 to the dollar in 2022, it was seen as an extraordinary moment. As it now edges closer to ₹100, the explanations remain familiar still, suggesting rising oil prices, capital outflows, U.S. interest rate hikes, and geopolitical tension as potential causes. These are the immediate triggers behind the rupee's weakness. But the deeper issue lies elsewhere.…
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