During mid-March 2017, the Indian rupee surged to a 16-month high against the dollar, closing at 65.82, a level last seen on November 6, 2015. It strengthened by 79 paisa, or 1.19%. This is the highest single-day gain since September 19, four years ago. The RBI was seen intervening through state-owned banks that bought dollars, a move aimed at checking the rupee's wild swings. Why do you think central banks intervene? What do you think might happen if the central banks did not intervene in order to check the swings in the currencies?