India Rebuffs IMF Claim of Excessive Rupee Intervention
- IMF said RBI's intervention in forex market was excessive, keeps rupee in narrow range
- India strongly disagrees, says IMF assessment unjustified and uses data selectively
- RBI believed to have intervened $78 billion from Dec'22-Oct'23 to cap rupee fall
- India sensitive about currency manipulation tag; not on US Treasury watchlist now
- IMF forecasts India growth potential over 6.3% if key reforms undertaken