Rupee should be allowed to depreciate: CEA Subramanian
Outgoing Chief Economic Adviser Arvind Subramanian has said that rupee should be allowed to depreciate in sync with rest of the world currencies. "If oil prices rise and other currencies depreciate, the rupee depreciating has to be part of the adjustment mechanism," Subramanian said. He added that India can withstand external shocks from high oil prices and a strong dollar.