India Central Bank Chief to Ensure Orderly Movement in Rupee

India’s currency has been on a downward spiral, falling 6.6% this year, as fears of a global recession and deteriorating external balances fuel outflows. The central bank, earlier this month, announced measures to help shore up its foreign exchange reserves that have declined to the lowest in more than 14 months at $ 588.3 billion as of July 1.

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