The thing to watch is where the rupee will settle down“Cecily, you will read your Political Economy in my absence. ‘Currency closer to equilibrium’ as rupee hits record lowOn December 13th, the US dollar closed at Rs110.50 in the interbank market. The closure in the open market was at Rs110.75 per dollar. A similar statement made some time ago by a conscientious acting governor before Mr Dar became a sleeping finance minister, was strongly rebuffed by him. By letting the rupee fall, the government is signalling a tough stance.

Source: The Express Tribune December 15, 2017 05:03 UTC