We know already that the INR has depreciated by more than 3 per cent against USD and 6 per cent against euro and yen between August 11 and 28. Explaining the reason for this depreciation, Pandey says, “China is India’s largest trading partner with export to China valued at USD 16.4 billion, while the imports from China are to the tune of USD 58.2 billion. Devaluation of the yuan thus puts pressure...
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