Rupee should assert its value

Rupee should assert its value This refers to the report "RBI group suggests multi-pronged plan to internationalise the Re" (The Hindu Business Line, July 6). Hesitant approach to stage by stage full convertibility initiated during 1990's halted midway for extraneous reasons. The present initiative to internationalise Rupee, hopefully, will have a smoother journey because, as of now GOI and RBI are on the same page. Let's hope, this time around, the IDG report on making the Rupee find its deserving place becomes the step in the right direction to help rupee ascend to a level where it would be widely used and preferred by other economies as a "vehicle currency" as asserted in the report. M G Warrier Mumbai


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