Impact on rupee from China’s yuan move to be temporary: Arvind Subramanian

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New Delhi, Aug 15 (ANI): The impact of the devaluation of the Chinese yuan on the rupee will only be “temporary”, given “adequate” foreign exchange reserves, said chief economic adviser Arvind Subramanian. The comments come after the rupee slumped to its lowest since September 2013 this week after China’s action on the yuan. The rupee fell 1.87 percent against the dollar this week, its biggest fall since late April.

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