If countries feeling the effects of inflation think they are going to be able to use exchange rate currency as a tool to fight it off, they are wrong. According to Reserve Bank governor Y.V. Reddy, “If the exchange rate is to be market-determined, you cannot use it as an instrument for some policy or [...]

Banks are losing ground in their foreign currency deposits due to the economic conditions affecting the world. Part of the reason is that they have had to withdraw their dollars from their overseas accounts in order to meet the demands of the customers’ at home. The shortage of dollars has been causing an uproar, forcing [...]