The Indian rupee has been sliding against the U.S. dollar in recent days as emerging markets come under pressure. That’s made the currency one of Asia’s worst performers, losing 12 percent this year. The rupee’s latest moves have sparked a debate in India. The Reserve Bank’s stated policy is to reduce volatility, rather than target a specific level for the currency. Should the RBI intervene to strengthen the rupee? If so, what precisely should it do and what would the impact be? A number of factors are pressuring officials to act — not least among them, that the rupee has become both a badge of national pride and a ... (full story)