The value of the rupee is not depreciating... the value of the dollar is rising - Nirmala Sitharaman
The Forecast 3 years ago General
Washington,
The Indian rupee is at an all-time low against the US dollar. The Indian rupee fell to 82.42 against the dollar.
Due to various reasons such as the withdrawal of foreign investments from the Indian stock market, the Ukraine-Russia war, the rise in crude oil prices, and the increase in interest rates by the US central bank, the value of the Indian rupee against the US dollar is experiencing an unprecedented decline.
The RBI is taking various measures to strengthen the value of the rupee against the dollar.
Meanwhile, Indian Finance Minister Nirmala Sitharaman left for the US to attend a World Bank and International Monetary Fund conference. She participated in the World Bank and International Monetary Fund conference yesterday. After that, Nirmala Sitharaman met the media. Then the reporters asked him various questions. In particular, they questioned the continued depreciation of the Indian rupee against the dollar.
To which Nirmala Sitharaman responded, I don't see the value of the Indian rupee depreciating... I see the value of the US dollar continuing to rise.
All currencies are working against the strengthening US dollar. The Indian rupee is strong against the US dollar against all currencies. The Indian rupee has been performing well against emerging market currencies.
The fundamentals of the Indian economy are sound. Foreign exchange reserves are also good. This is why I keep saying that inflation is at a manageable level.
0 Comments