Ultimately, in the long run we need to immunise our system from being overly responsive to fluctuations in the exchange rate; that is, people should, by and large, be reasonably hedged, or they should borrow more in domestic currency rather than foreign currency.

Raghuram Rajan

Raghuram Rajan

Being Borrow Currency Domestic Exchange Foreign Large Long Long Run More Need Our Overly People Rate Rather Reasonably Responsive Run Should System Than Ultimately

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