The first 10-month tenure of RBI Governor Sanjay Malhotra has seen the Indian rupee dip by a massive 4.77%, the sharpest fall since former Governor D Subbarao's tenure, according to Moneycontrol's analysis. The decline has come amid persistent dollar strength, elevated US yields and sustained portfolio outflows. During Subbarao's tenure, the rupee had dipped nearly 9% amid 2008 financial crisis.