The rupee opportunity

The currency's fall should be eased

The rupee, alongside other emerging market currencies, has had a few turbulent days. Following an extraordinary attack by Turkey’s president, Recep Tayyip Erdogan, on the US and global financial markets, the Turkish currency, the lira, took a special battering. Its fall has been the highest since 2001; in just a few months it has gone from about four lira to the dollar to around seven. Mr Erdogan’s open defiance of the financial markets came at a time when the US appeared unwilling to provide stability, with US President Donald Trump announcing on Twitter that tariffs on Turkish steel would, in