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There is no concern over rupee value: Finance Secretary

04 Feb 2025 Evaluate

Amidst the weakening rupee, Finance Secretary Tuhin Kanta Pandey has said that there is no concern over rupee value and the Reserve Bank of India (RBI) is managing the volatility of the local currency. He further noted that the Indian rupee is free-float and no control or fixed rate is applicable on the currency.

Pandey further said that the exchange rate is facing pressure amid unabated foreign fund outflows, underlining that the depreciation of the Indian currency will certainly have an impact on imports, which can turn expensive and stoke inflation, but added that exports will become more attractive. 

The rupee on February 3, 2025 hit record-low of 87.29-a-dollar after Trump Tariffs on Canada, Mexico, and China triggered fears of a broad trade war. Meanwhile, the exchange data showed that on February 3, the foreign institutional investors (FIIs) remained net sellers for the 23rd session, as they offloaded equities worth Rs 3,958 crore.


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