FM Says Rupee `Way Above the Comfort Level’
Indian Finance Minister Palaniappan Chidambaram said policy makers have few options to deal with a rupee exchange rate that is “way above the comfort level” because the currency is set by open markets.
“We can do nothing much directly,” Chidambaram said in an interview today in Washington. “If I have to help the exporters, I can only do so by fiscal steps.”
