| It was September 3, 2013. The Reserve Bank of India was getting a new Governor, on whom much hopes were pinned to get back on track an economy fast going downhill and a rupee that was failing to find a bottom.
Though Rajan cautioned he had no magic wand to set right all issues in quick time, the rupee’s fortunes began changing almost overnight. And within the space of a month-and-a-half, the Indian currency vaulted from being the worst performer globally in 2013, to the best performer. The Federal Reserve deciding to put off the tapering of its quantitative easing (QE) programme also aided this reversal...............................................Full Article: Source
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