Worry Over a Falling Rupee

A strong currency is no reflection of a strong economy. Exchange rates are best left to economists to manage

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It is widely and popularly believed that a strong currency is a reflection of a strong economy. This belief explains why there is a lot of hue and cry when a country's currency is depreciating sharply, much like the rupee is right now. This is neither the first nor the last time such a frenzy is being whipped up. It is almost poetic justice that politicians who once used the exchange rate as a political weapon are going red in the face trying hard to discredit its use by their opponents.