Raghuram Rajan tracking rupee 'minute-by-minute', says it's not stable yet

Since September 4, when Raghuram Rajan took over as Reserve Bank governor, the rupee gained a whopping 8 per cent till September 19, 2013.

MUMBAI: Reserve Bank of India governor Raghuram Rajan on Friday said the recent rally in the rupee is comforting but said the currency has not yet achieved stability which will only be reached when he stops keeping a "minute-by- minute" track of the unit. 

"Absolutely, I am more comfortable where we are now than where we were a couple of weeks back," he told reporters in an interaction after the release of the mid-quarter review of the monetary policy here. 

After hitting a lifetime low of 68.85 against the dollar on August 28, the rupee has recovered aggressively to become the best performing Asian unit in the last fortnight. Since September 4, when Rajan took over, the rupee gained a whopping 8 per cent till Thursday. The unit today closed at 62.23 versus dollar, down 46 paise or 0.74 per cent.