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Two financial instruments that saved the rupee

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Raghuram Rajan managed to successfully stem the rupee’s fall through a series of measures announced on the day he took over as RBI Governor.

 

The timeline of November 30, 2013 set by the Governor transmitted the sense of urgency in controlling the rupee.

 

But what are these two instruments that have managed to bring in a semblance of normalcy in the markets.  Read more

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