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NEWSFLASH : Gujarat Cadre IAS Tapan Ray Appointed As Secretary, Economic Affairs

See 60-61/$ As Fair Value For Rupee On Spot Basis: Ridham Desai

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September 26: When it comes to the currency, Morgan Stanley’s Ridham Desai says the rupee was overdone at 68 to the dollar. We’re approaching fair value, where the currency should have been on a fundamental level, he says. However, by lowering the real rates back to zero, India risks US treasuries rising on possible Fed tapering, which is bad news for the rupee, he says, adding that if nothing happens, the worst for the rupee may be over.