[ad_1]
The government ruled out any "instinctive reaction" to deal with the rupee's decline and said that appropriate measures would be taken after taking into account the world situation.
In the context of the rupee breaking the bar of 69 The Minister of Finance, Piyush Goyal, stressed the fact that there is no need to react hastily to deal with the situation .
The rupee closed Thursday at a record low of 68.79 due to multiple headwinds, including worries about inflation and weak global indices. The recovered currency has lost ground today to hit 68.36 in the afternoon.
"I am quite convinced that the RBI, which manages the exchange and exchange rates, and the government will sit down together to discuss."
"The knee reaction does not come back." is not necessary, it is necessary to work in an organized market and in an organized way, "Goyal told the press in
the rupee hit 68, RBI governor then Raghuram Rajan introduced bank deposits of Non-resident foreign currency (FCNR-B) under which 32 billion USD came to India for three years.As a result, rates have stabilized, he said on the sidelines of a conference
" We returned that $ 32 billion and if you see in the last five years, there has been no depreciation of the rupee. there could be speculation because foreign exchange reserves had risen to $ 304 billion and $ 425 billion by the end of 2017-18, "said Minister Goyal
. 2013, fell to 1.9% in the last fiscal year, and the budget deficit, which was 4.5% at the time, fell to 3.5%,
"Nos. Macroeconomic indicators from all points of view are better today, but you know the global environment. The interest rate in the United States has hardened, so that there is a capital flight to the United States.
Goyal, who also holds the portfolio of the Department of Corporate Affairs, delivered an international conference entitled "Professionals of the Future: Thoughts 2018 & Beyond" organized by the Institute of Accountants' Awards. India
The State Minister for Corporate Affairs PP Chaudhary also took the floor
(This story was not edited by Business Standard staff and is generated automatically from a syndicated feed.)
[ad_2]
Source link
