Value of Indian rupee has not fallen: Nirmala Sitharaman..!

Sowmiya Sriram
Value of indian rupee has not fallen: Nirmala Sitharaman..!
The value of the indian rupee in the international market has not fallen. Union Finance minister Nirmala Sitharaman has said that the value of the US dollar has increased. When asked about the depreciation of the rupee, the Union Finance minister, who is on a trip to the US, said that the value of the US dollar is strong in the international market. As a result, the currencies of all other countries are working against it. However, the value of the rupee is strong in developing countries.
He said that the action of the Reserve bank is also towards growth. Union Finance minister Nirmala Sitharaman's comments came after the rupee had seen an all-time low of Rs 82.68 last week. It was Rs 82.32 last Thursday. Notably, it finally closed at Rs 82.24. The fundamentals of India's economy are strong. Foreign exchange reserves are also stable. Inflation, meanwhile, has remained steady compared to other countries. Meanwhile, RBI is also taking adequate measures.
 However, amid many factors such as the ongoing Russia-Ukraine conflict, record high inflation, and interest rate hikes by central banks to control inflation, foreign investment continues to flow out. Meanwhile, the rupee is depreciating. Starting from foreign experts and ending with indian experts, they are making predictions about the economic growth of India.
However, it is still under development. These growth projections are also consistent with other countries' growth rates. This too amid the ongoing international tensions has impacted the supply chain. Meanwhile, lockdown measures are also in place in China.
For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

value of indian rupee

Related Articles: