Rupee not falling, dollar is strengthening: Finance Minister

The Indian rupee has hit a record low against the dollar. Meanwhile, Finance Minister Nirmala Sitharaman spoke on the falling rupee and said that ‘I would look at it as the Indian rupee is not sliding, but the US dollar is getting stronger’. The Finance Minister said this while addressing a press conference in Washington DC. Actually, Nirmala Sitharaman is currently on a US tour. Speaking about India’s growth story and strong economy here, she spoke on Rupee. This statement of the Finance Minister has come a few days after the rupee fell to an all-time low of 82.69.

What did the Finance Minister say?

Responding to a question, the minster said, ‘The dollar continues to strengthen. So obviously all other currencies are performing against a strong dollar. I am not talking about technicalities, but the fact is that India The Indian Rupee is probably facing this dollar rate hike. … I think the Indian Rupee has outperformed many other emerging market currencies.’

FM Nirmala Sitharaman said that the RBI is trying its best to stop the rupee from going down. She said that the focus of RBI is more on the fact that there is no big volatility in the market. Therefore, the central bank is not interfering in the market to fix the Indian currency.