![]() When asked about steps being done to stop the drop, she told ANI that it is apparent that all other currencies are doing poorly relative to the USD’s strength. She said that the Reserve Bank of India (RBI) was not interfering in the market to fix the value of the Indian rupee, but rather was concerned with preventing excessive volatility. The finance minister stated, “I will look at it, not Rupee dropping and look at it as dollar strengthening continually,” during a press conference while visiting the US. Ms. Sitharaman attributed the decline to the strengthening of the dollar. The rupee, according to her, is not losing strength. The rupee has performed significantly better than other currencies from emerging markets, according to Finance Minister Nirmala Sitharaman. A few days after the rupee hit an all-time low of 82.69, the minister made his comment. ![]()
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