Chief Economic Advisor (CEA) V Anantha Nageswaran on Tuesday said India is not defending the rupee and the Reserve Bank of India is taking necessary steps to ensure that the movement of the rupee is gradual and in line with market trends. Nageswaran further said that the rupee is being managed in a manner that reflects the fundamentals of the economy. “India is not defending the rupee… I don’t think Indian fundamentals are such that we need to defend the rupee. “The rupee can take care of itself,” he said at an event in New Delhi.
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