There is one thing commoners miss while reading currency fluctuations. It is that they are dealing with two variables. It is not the rupee that is weakening, but it is the dollar that is appreciating. Let me illustrate: About 5 years ago 1 Great Britain Pound equalled about 101 rupees. Now, it is worth only 89 rupees. One Euro bought about 85 rupees, now it buys only 79 rupees. A Brazilian real equalled about 26 rupees and now it is about 18 rupees. A Russian rouble equalled 2 rupees back then and now it is on par with the rupee. In short, the rupee was getting stronger over the past few years against many other currencies and that was worrisome to many economists and exporters. In fact, not long ago publications that are highly critical of the BJP like ‘the Wire’, etc., were complaining that the Indian government was keeping the rupee too high. ( https://thewire.in/banking/rising-real-exchange-rate-hurts-indias-exports ) This is one of the reasons why RBI has slowly...