Rupee Rebound From Two-Year Low Fits Rajan's Currency Truce Call.

Reserve Bank of India Governor Raghuram Rajan called for an overhaul of the global monetary policy system and again urged against competitive currency devaluations. The European Central Bank and the Bank of Japan are essentially trying to push down the values of their respective currencies with the use of negative interest rates, former Bank of England Governor Mervyn King said Monday in a Bloomberg Television interview. The ECB and BOJ contend they're not intentionally aiming for weaker currencies with easing policies aimed at boosting growth and inflation. [Extracted from the article]