Rupee Stands Strong Against Dollar: Nirmala Sitharaman

Rupee stands strong against dollar: Nirmala Sitharaman

New Delhi:

Amidst the breaking news against the dollar, the statement of Finance Minister Nirmala Sitharaman remains in the headlines these days. In fact, he said on Saturday that the rupee has stood more strongly against the US dollar than other currencies of the world. Amid concerns being raised about the condition of the Indian currency after the rupee fell to a record level against the dollar, Sitharaman said that the Reserve Bank of India (RBI) and the Finance Ministry are constantly monitoring the position of the rupee.

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He said that if any one currency has maintained its position to a great extent in the current state of currency fluctuations, then it is the Indian Rupee. We have handled this situation quite well. When asked about the falling price of rupee, he said that in the current period of decline, there is a need to study the condition of other currencies against the dollar. Let us inform that on Friday, the rupee had reached the level of Rs 81.09 per dollar against the US dollar. There has been a steady decline in the value of the rupee in the last few months. On Thursday, the rupee fell by 83 paise in a single day, which was the biggest fall in the last seven months.

Experts believe that increased geopolitical tensions after Russia’s attack on Ukraine at the beginning of the year have weakened the position of other currencies against the dollar. Apart from this, to control the rising inflation, the central banks of many countries including the US have increased the interest rates, which has increased the pressure on the currencies.

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