Correcting rupee against fundamentals ultimately futile, says RBI's ex-guv Subbarao

What happened: Former RBI governor D Subbarao said correcting the rupee against fundamentals is ultimately futile and advocated letting it find its level based on economic fundamentals. He criticized costly short-term measures that do not address structural issues behind capital outflows. Why it matters: Subbarao said tax reforms are important to attract foreign investment in India. The rupee's recent recovery followed RBI measures to reduce dollar demand. Key numbers: Omit (no concrete figures in content).

Former RBI governor Subbarao says correcting rupee against fundamentals is futile.

Former RBI governor Subbarao says correcting rupee against fundamentals is futile. — impact context not separately stored; see What changed.