Business & Investment

The rupee is in a relatively good position against the US dollar over other world currencies: FM

among Fall against the US dollar, Minister of Finance On Thursday, India’s currency said it was in a relatively better position against the greenback than other world currencies.

Emerging market currencies Growth concerns, global high oil prices, sustained inflation, and central banks around the world adopting a hawkish monetary policy approach amid geopolitical tensions triggered by the war between Russia and Ukraine. increase.

“We are in a relatively good position. We are not a closed economy. We are part of a globalized world. Therefore, we will be affected (by global development),” Finance said. The minister told bystanders of the event here.

She was answering questions about her movements Against ..

The Violated 79 psychologically significant levels per person It reached its level for the first time on Wednesday and hit a series of lifetime lows this month as well.

However, Thursday’s domestic currency rose 13 Paisa against the US dollar to 78.90 in early trading.

Since the outbreak of the war in Ukraine in late February, the Reserve Bank of India (RBI) has run out of foreign exchange reserves to protect the rupee from a sharp fall. Since February 25, major foreign exchange reserves have declined by US $ 40.94 billion.

Last week, Reserve Bank Deputy Governor Michael D. Patra said the central bank would not allow the rupee’s “jerky move” and emphasized that the Indian currency has been the least depreciated recently.

“We support its stability and do it. We are on the market and do not allow the chaotic movement of the rupee. We do not consider the level, but the jerky movement I don’t forgive it. That’s for sure, “Patra said.

(Only the headings and images in this report may have been recreated by Business Standard staff. The rest of the content is automatically generated from the syndicated feed.)

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The rupee is in a relatively good position against the US dollar over other world currencies: FM

https://www.business-standard.com/article/economy-policy/rupee-relatively-better-placed-than-other-global-currencies-against-usd-fm-122063000615_1.html The rupee is in a relatively good position against the US dollar over other world currencies: FM

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