Finance Minister Ms. Nirmala Sitharaman says Indian Rupee is strong against every currency
- IBEF
- December 13, 2022
The Finance Minister Ms. Nirmala Sitharaman remarked that the Reserve Bank of India (RBI) will have to intervene in the market using foreign exchange reserves to manage the dollar-rupee fluctuations. She also added that India is the fastest-growing economy, and the Indian rupee has stayed strong against every other currency.
Due to high selling pressures in domestic stocks in the foreign markets, the Indian Rupee depreciated by 35 paise, estimated at Rs. 82.63 against one US Dollar. Also, rising oil prices and foreign capital outflows affected the Indian currency. Meanwhile, the dollar rose by 0.35% to 105.16.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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