In brief
NEWS
RBI introduces new REER basket
The Reserve Bank of India governor Y.V. Reddy said last week that the country's central bank will be coming out with a new six-country real effective exchange rate (REER) index to replace the current index based on five countries.
The currencies of France and Germany are to be consolidated into the euro, and those of China and Hong Kong are to be added. The REER should comprise US dollar, the pound, yen, euro, Chinese yuan and Hong Kong dollar.
Further details on
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