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Story summary
- Sanjay Malhotra, Governor of the Reserve Bank of India (RBI), says the RBI has not altered its approach to exchange rate volatility.
- The rupee has declined about 5% this year and hit a record low above 90 per dollar.
- The RBI aims to reduce excessive volatility while allowing some fluctuations.
- Analysts say Malhotra's approach is more hands-off than his predecessor.