The Reserve Bank of India (RBI) will do “whatever is required” to ensure orderly movements in the foreign exchange market and curb undue speculation, Governor Sanjay Malhotra said in an interview with Mint, adding that the rupee may now be undervalued after its recent slide.
Speaking amid concerns over the rupee nearing the psychologically significant 100-per-dollar mark due to the ongoing conflict in West Asia, Malhotra said the central bank had enough tools and reserves to tackle excessive volatility in currency markets.
