Mint Exclusive: As Rupee Inches Towards $100 Mark, Guv Sanjay Malhotra Spells Out RBI’s Gameplan
As the rupee moves closer to the psychologically important 100 per dollar mark amid escalating West Asia tensions and rising crude oil prices, Reserve Bank of India Governor Sanjay Malhotra in an exclusive interview with Mint said that Indian rupee is not overvalued and may in fact be undervalued after the recent depreciation.
He reiterated that RBI does not target any specific exchange rate level and would intervene only to curb abnormal and high volatility or undue speculation. He also pointed out that after the recent depreciation one could argue that rupee is no longer overvalued and may in fact have become undervalued in both nominal and real terms.
Watch.
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