IMF to reclassify India's forex management framework: Report
The International Monetary Fund (IMF) is expected to reclassify India's foreign exchange rate management regime in the near future, Bloomberg reported. In 2023, India's forex management framework was reclassified to a "stabilised arrangement" from a "floating" system, citing excess intervention. The potential reclassification comes amid the rupee hitting record lows against the US dollar.