A lot of noise is made around the “strength” or “weakness” of the rupee.But over three decades of data, a quieter truth emerges.Rupee depreciation, in itself, has not been India’s problem. In fact, it has often served India well.A gradually adjusting rupee has:Preserved export competitivenessAbsorbed inflation differentialsSupported steady economic expansionWhat has not helped is volatility.Episodes… Continue reading