Best of BS Opinion: The Covid-19 impact, currency conundrum, and more

Prime Minister Narendra Modi has told chief ministers that the Centre and states should have a common exit strategy when the national lockdown ends. Meanwhile, the spread of Covid-19 continues in different parts of the world, including India. Among other things, the pandemic has significantly affected global financial markets.

In this context, our lead editorial notes: Although the RBI has done well to contain excess volatility in the currency market, it is important to note that the Indian rupee is still significantly overvalued in real terms and should be allowed to depreciate.

The time may be ripe to