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India’s RBI engineers a currency crunch

Posted on 18 July 2013

Sometimes it seems India is trying too hard to emulate neighbor China. China’s central bank recently engineered a cash crunch by tightening its monetary stance, and now the Reserve Bank of India has followed by pulling liquidity from its financial sector.
Of course, there are big differences. Where the People’s Bank of China aimed to rein in surging credit, the RBI wants to prop up the weak rupee by raising domestic interest rates………………………………………..Full Article: Source


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