According to Jaitley, the motives for the drop of rupee value are global and not internal.
He also said, “compared to what it was four-five years ago, rupee is better off.”
India’s Finance Minister Arun Jaitley has recently said the main motives for the drop of rupee value are global and not internal.
Jaitley said at a media conference, “we must bear in mind that dollar has strengthened against almost every currency. The rupee has either consistently strengthened or remained in a range, not weakened.”
He also said, “compared to what it was four-five years ago, rupee is better off.”
“RBI (Reserve Bank Of India) is certainly doing whatever is necessary. I don’t think there is any need for the world’s fastest-growing Economy to come out with panic and knee-jerk reactions,” finance Minister said.
Finance Minister further said, “if you look at the domestic economic situation and global situation, there are not domestic reasons attributable to this, but all reasons are global.”
