rbi speech, 2006-11-17
Studies have shown that with unchanged growth rates in the US and the rest of the world, the US dollar would need to depreciate by nearly 33 per cent - equivalently, the non-US currencies would have to appreciate, on average, by 50 per cent - to balance the US trade account (Obstfeld and Rogoff, 2004, 2005).
Sentiment: neutral
Topic: mp_exchange_rate