Rupee much more flexible now, FX rate should be first defence: IMF

Krishna Srinivasan, Director of the IMF's Asia and Pacific Department, said the rupee has shown "much more flexibility" since its de facto arrangement was reclassified last year as 'crawl-like' from 'stabilised'. He said letting the exchange rate move is better, as interventions by many Asian countries have offered little relief. He also stressed the importance of labour reskilling.