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RBI Set To Sell Bonds To Support Rupee

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The rupee has fallen 12% over the past six months and forex reserves have hit a three-year low. Now, the RBI has decided to sell Rs.22,000 crore bonds every week to curb the volatility in rupee. Bloomberg TV India talks to Saugata Bhattacharya, Senior VP at Axis Bank, about RBI’s move and its possible impact on the system.