RBI has been prudent in its exchange rate management: Deepak Parekh

Currency's depreciation not a reflection of the economy, says HDFC Ltd chairman

The Reserve Bank of India (RBI) has been prudent in exchange rate management and not allowed a free fall of the rupee, said Deepak Parekh, chairman of HDFC Ltd, on Tuesday as he insisted there was no need to ring a "warning alarm" about the economy.

The rupee has marked its longest weakening streak since 1985, as per reports. The dollar index, which measures the greenback against a basket of currencies, has risen by 16 per cent year to date while the rupee has depreciated around 10 per cent, Yen by 23 per cent, Pound by 16 per cent, and