HTLS 2025: Rupee will find its own level, says Finance Minister Nirmala Sitharaman
Finance Minister Sitharaman said the circumstances were different when they raised the rupee issue while they were in the Opposition.
The rupee will find its own level, said Finance Minister Nirmala Sitharaman at the Hindustan Times Leadership Summit (HTLS) 2025 on Saturday. She was answering a question on whether the Indian currency at present stands at a level which is a little too high versus the dollar.
Asked about the nationalist and political aspect attached to the currency weakening naturally, Nirmala Sitharaman acknowledged that while in Opposition her party had raised the issue of a falling rupee, but added that when they raised the issue , the economic circumstances were different. Track HTLS 2025 latest updates
“I am quite tempted to say lot of things. Rupee, currency exchange rates etc., are rather too sensitive... inflation rate was so high back then, economy was fragile and when your currency also takes a hit it is nobody's bright spark,” Nirmala Sitharaman said, speaking at HTLS 2025 on Saturday.
“Look at the fundamentals of the economy, where we stand, some factors are very important which position India in a very different ledge… this currency debate will have to be circumscribed by those realities,” Nirmala Sitharaman said.
On Wednesday, December 3, the rupee touched a fresh all-time low of 90.43 amid selling pressure from foreign investors and rising crude oil prices.
The currency rebounded on Thursday and appreciated by 26 paise to close at 89.89.
According to forex traders the US Dollar fell after US non-farm payroll data came in sharply below forecast. The softness in the US dollar index supported the rupee at lower levels.
