Investor attention in emerging markets is focused on currency intervention and capital controls amid strong foreign inflows, but India stands out from most of its peers by adopting a largely non-interventionist approach. As a result the rupee has been by far the strongest of the major EM currencies in the period since QE2 was heralded at Jackson Hole in August. By contrast with its active rupee interventions and fresh restrictions on capital flows during the last episode of this kind in...
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