When pmln came into govt, rupee went from 98 to 108. Only after Saudis gave some aid, the rupee came back to its initial value of 98 to a dollar. Even now rupee is overvalued and kept at 98 artificially. Just one long March has forced it to climb upto 100. Based on fundamentals it should be over 110 because gap between imports and exports has ballooned substantially.
