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Words and deeds in the Indian exchange rate
India officially has a floating exchange rate. But the data identify six distinct regimes since 2000 — and a de-facto dollar peg as recently as 2024.
May 30
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Rajeswari Sengupta
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The power of prices in times of crisis: Don't suppress market signals
Economies adjust to shocks through prices. The role of policymakers is to let prices do their job.
May 21
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Rajeswari Sengupta
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5 myths surrounding the Rupee
The rupee has been in the news a lot lately but several misconceptions prevail in popular discourse. I try to debunk some of those myths here.
May 18
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Rajeswari Sengupta
18
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Internationalising the rupee: India's path must diverge from China
India’s push to internationalise the rupee hinges on sustained growth, deeper and more open financial markets, and a flexible exchange rate—yet recent…
May 6
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Rajeswari Sengupta
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Why growth isn’t saving the rupee
The rupee had already fallen ~6% in 2025-26, before the West Asia war began--it reflects persistently weak capital inflows, not just the conflict.
May 2
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Rajeswari Sengupta
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Let the rupee move freely: RBI intervention risks more harm than good
A weaker rupee isn’t a problem to resist—it’s the economy’s way of restoring balance
Apr 21
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Rajeswari Sengupta
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Rupee pressures, RBI’s response, and why it may backfire.
I unpack this in the article below, and also in my latest podcast with Puja Mehra (link below).
Apr 16
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Rajeswari Sengupta
17
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3rd chance for India at the doorstep; Banking sector's liquidity vs funding
Finding opportunity amidst the tariff-war
May 4, 2025
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Rajeswari Sengupta
9
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