Rupee undervalued; RBI will ensure stability in INR, helping it find its correct value
Stating that the rupee may be "undervalued" as per many estimates, Governor Sanjay Malhotra on Wednesday assured that the Reserve Bank of India will ensure that the currency "stabilises" and will support it in reaching its "correct value".
Via YourStory
Speaking to reporters on a day that saw the local currency inching towards all-time low against the dollar, Malhotra noted that while markets can be "irrational" in the short term, they reflect their right value in the long run.
"We will ensure that the rupee stabilises, that the rupee finds its correct value, and we will support an orderly movement of the rupee in finding its correct value and at the same time in ensuring that there is no excessive…
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