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The New Threat on the Foreign Exchange Front*
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Oct 3rd 2022, Prabhat Patnaik
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On
September 23, the value of the rupee vis-à-vis
the dollar fell to a new low: it crossed 81 to a dollar
after some weeks of relative stability when it hovered
between 79 and 80. And it fell despite the Reserve Bank's
running down of foreign exchange reserves in a bid to
hold up its value.
*
This article was originally published in People's
Democracy on October 2, 2022.
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