nEW DELHI, Feb. 8 -- RBI governor Sanjay Malhotra on Friday said the central bank doesn't have a target price or even band for the rupee, and that its policy remains the same. "...the Reserve Bank's exchange rate policy has remained consistent over the years. Our stated objective is to maintain orderliness and stability, without compromising market efficiency," he said in a statement. On Thursday, the rupee plunged 16 paise to close at 87.59 against the US dollar (a record low). On Friday, it rose about 0.2% to end at 87.43 against the US dollar. Overall the currency has declined by nearly 1% this week, its worst weekly performance against the US dollar since December 2022. P17
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