New Delhi, May 22 -- The Reserve Bank of India (RBI) should not let the psychological barrier of Rs 100 per dollar dictate its monetary strategy, and the right approach under current conditions is to allow the domestic currency to weaken, according to Arvind Panagariya, Chairman of the 16th Finance Commission and Former Vice Chairman of NITI Aayog.

In a message to RBI, expressing his views on the social media platform X, Panagariya stated that the central bank needs to look past specific exchange rate milestones when navigating currency fluctuations driven by global supply disruptions.

"Dear @RBI: Do not let the psychology of Rs 100 per dollar determine your policy response. 100 is just a number, like 99 and 101. Whether the oil shortag...