Floating the Rupee

on April 3, 2006 with 0 comments »

Sarita Rai writes in the IHT - A long road remains to free-floating rupee

Need subscription to read this article in The Economist on the Convertibility of the Rupee -
In a difficult political environment, Manmohan Singh, India's prime minister, has a knack for pursuing reform by stealth. An important proposal was announced on March 18th not in parliament but in Mumbai at a humdrum book launch of the third volume of a history of the Reserve Bank of India (RBI), the central bank. Mr Singh said he had asked the RBI to revisit the issue of full convertibility of the rupee.

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