“The exchange rate is now closer to the equilibrium,” said the governor, refusing to divulge where the rupee would land after the movement. Rupee suffers 4% fall in intra-day movementIt was the first time that the chief regulator of the financial and banking sector spoke about the decisions to let the rupee lose value. He said that the private sector credit was also going up. He was not happy with the way the country’s banking sector is extending loans. He said that the agriculture sector credit disbursement policy will be reviewed in January.

Source: The Express Tribune December 13, 2017 03:45 UTC