Miscellaneous - This Day That Age   

dated January 8, 1959: Domestic economy

Mr. H.V. R. Iengar, Governor of the Reserve Bank, addressing the Commerce Graduates’ Association, in Bombay on January 7, said that it would be a task of primary importance for both the Government and the Reserve Bank to see that in the difficult years that were still ahead of them, the value of the rupee was not allowed to be eroded. He said that what they had to see was whether a general and sustained price increase was taking place causing a perceptible and continuous depreciation in the value of the currency – in other words, whether there was inflation or fluctuations in the price level explicable on other than monetary grounds.

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