The rupee’s woes were compounded by widening of fiscal and current account deficits - both were at record highs.
On September 4, at a time when the rupee was the worst performer among Asian currencies, Raghuram Rajan took charge as RBI’s governor.
A slew of measures that he announced for attracting inflows helped improve sentiment. With these steps, the rupee’s fortunes also turned.
Business Standard looks at the situation a year ago and compares it with now.
Steps taken by RBI
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