Finance Minister Nirmala Sitharaman Rejecting the ongoing criticism over the fall in Indian rupee exchange rate on Sunday said that it has weakened only against the strong dollar, while strong economic foundation remains stable compared to all other currencies. A day after presenting the general budget, Sitharaman said that in the last few months, three percent fall in the rupee against the US dollar is a matter of concern as this has made imports expensive, but it is not true that its exchange rate has dropped all -round. Has come. He said, I am worried about the fall in the exchange rate of the rupee, but I will not accept the criticism that oh rupee is weakening! Our large economic foundation is strong. If the foundation was weak, the rupee would not have been stable compared to all currencies.
Pressure increased in the last few months
The Indian rupee has been under pressure in the last few months but has been the least unstable currency in terms of US dollars against the currencies of Asia and other countries. Recently, in addition to the increase in trade deficit against the US dollar, the bounce in the dollar index after the US Federal Reserve’s 2025 indication of a low interest rate in 2025. Sitharaman said, the instability in the rupee is against the dollar. The rupee has been far more stable than any other currency. Rupee is being seen to be volatile due to the strengthening of the dollar.
RBI is working continuously
He said, “RBI is also considering methods from which it will interfere in the market only to fix the causes of heavy ups and downs. So we are closely monitoring the situation. ”The Finance Minister said about those who criticized the instability of the rupee and the decline in the exchange rate that they are showing havete in arguments. Sitharaman said, “With the strengthening of the dollar today and the arrival of the new administration in the US, the fluctuations coming in the rupee have to be understood. There may be criticism, but it would be better to react before studying a little more before that. ”
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