Stop-start in currency volatility: Markets deliver consistent daily shifts

Policymakers can get export growth for some time through subsidies, whether a production-linked incentive or a falsified exchange rate

There was an age when the government controlled petroleum-product prices, and those prices were not updated regularly. World prices would go up and the Indian prices would not. The gap would become larger, the economic distortions would get worse, and the pressure would build up. And then, suddenly, prices would change by a lot. These big price changes were shocks to the economy. The policy community learned from those experiences: It is much better to dribble out the news as a large number of small price changes that happen every day. Some days, the price of petrol should go up,