Rupee will be in suspended animation for some time

While a value of Rs 74-74.5/$ looks fair, one can never tell. The RBI may have to intervene if the rupee crosses the 75 mark and edges upwards

‘When sorrows come, they come not single spies, but in battalions’ (Claudius is Hamlet).

This is the feeling one gets today as the stock market is plummeted, COVID is spreading, vaccination stocks are under a cloud and the rupee went down to Rs 75/$. What's happening, and is there a light at the end of the proverbial tunnel?

It all started with the credit policy where the Reserve Bank of India (RBI) announced a barrage of liquidity measures to pre-empt the possible shortage on account of the large government borrowing programme. It did seem innocuous at first, but the market