IMF likely to alter classification of India’s forex framework

The IMF is expected to revise how it classifies India’s exchange rate regime, two years after triggering tensions with the RBI by suggesting excessive currency intervention. According to people familiar with the matter, the new description may reference a “crawling peg,” a framework involving gradual currency adjustments to reflect inflation differentials. The shift would signal a recalibrated view of India’s de facto forex management.

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