Rupee dip triggers political standoff, policy response | Daily FT

CB suspends mandatory 10% remittance and 50% export forex buys from banksBanks, including NSB, told to stop bond buys from 23 March to 9 April Move comes after rupee hit fresh lows this week but recovered slightly on ThursdayCabraal says right policies in place for non-debt inflows, predicts depreciation reverseEran hits back, faulting Govt. for creating high liquidity levels, lacking plans to boost reserves Analysts suggest market sentiment low due to two debt repayments pending in May and July Indicate $ 1.5 b China swap will have limited impact on reserves as it is in Yuan By Uditha Jayasin…

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HEDGE accordingly