FM Nirmala Sitharaman On The Depriciating Indian Rupee: “Trying To Stop The Volatility”
Finance Minister Nirmala Sitharaman says the Reserve Bank of India is focused on curbing volatility in the rupee, not fixing it at a particular level. Acknowledging that the currency has depreciated significantly over the past 18 months to two years, she said India’s macroeconomic fundamentals and foreign exchange reserves remain strong. Sitharaman attributed pressure on the rupee to external factors and said she expects the RBI to take further steps to prevent excessive volatility, while measures already taken have helped the currency recover ground.
