A new all-time low: Rupee at 70 a dollar now, but let us be reasonable

The present problem is ostensibly caused by the Turkey-US diplomatic imbroglio. Such issues can snowball into something more serious; so it will be difficult to guess when the issue will get resolved

The rupee has already plunged under 70 to a dollar. How much more? The question is very relevant, now that the rupee has breached that psychological mark. Just a week ago, one thought the rupee would settle in the range of 68-69 a dollar; but the currency suddenly gravitated towards and then under 70. Curiously, the Reserve Bank of India (RBI) had mentioned in its last credit policy that trade wars were a major concern. But the concept of trade wars has assumed another dimension now, going beyond the US and China.

The present problem has been caused ostensibly due