RBI governor Sanjay Malhotra indicated that the rupee is undervalued and the central bank will intervene. The rupee closed at 96. 78, down 36 paise from the previous day, hitting a five-month low.
Source: [Times of India](https://timesofindia.indiatimes.com/india/rupee-may-be-undervalued-markets-can-be-irrational-rbi-governor-sanjay-malhotra/articleshow/134777349.cms)