In her exclusive India Today interview, Harvard professor Gita Gopinath urged the RBI to exercise extreme prudence with its $700 billion Forex reserves as the Rupee hits record lows of 97 per dollar. Challenging conventional panic, Gopinath argued against aggressive market intervention, stating a depreciating currency naturally corrects trade imbalances by rapidly curbing costly imports. Reassuring markets that there is zero evidence of unanchored inflation or financial instability, she emphasised that letting the Rupee adjust organically is a necessary economic mechanism to protect India’s scarce, non-printable foreign exchange assets.