Arvind Panagariya says RBI should not defend the rupee at 100 per dollar, arguing depreciation is the right response to rising oil pressures.

Arvind Panagariya advises RBI to let the rupee depreciate past ₹100 to a dollar amid current oil shortages.

Arvind Panagariya says RBI should not defend the rupee at 100 per dollar, arguing depreciation is the right response to rising oil pressures.