Orderly depreciation of rupee to increase competitiveness: World Bank Official
An orderly depreciation of the rupee would increase competitiveness and relieve some of the pressures in capital market, according to a top World Bank official who described it as a "positive development" if done in a right way.
The remarks by Martin Rama, the Chief Economist for the South Asia region of the World Bank, came as the rupee hit an all-time low of 74.45 against the US dollar on Thursday.
"We think that an orderly depreciation of the rupee would increase competitiveness and relieve some of the pressures that we are seeing in general in capital market," Rama told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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