India’s RBI to ‘Play it Slow’ on Defending Rupee, Axis Bank CEO Says
Source: Live Mint (Bloomberg) — India’s central bank is unlikely to mount a strong defense of the rupee despite the currency’s sharp depreciation, according to Axis Bank Ltd.’s chief executive officer. “I think they will play it slow. We can’t continue to spend such a huge amount of our reserves on just defending the rupee,”…