Nirmala Sitharaman on Indian Rupees vs Dollar

 

The price of the Indian currency has been falling for the past few days. The rupee is decreasing against the dollar. When asked about this, Union Finance Minister Nirmala Sitharaman said, "The value of the Indian currency has not decreased, in my opinion, the value of the dollar has increased."

• What's the story?

Currently, the Finance Minister is on a visit to America. In a press conference in Washington on Saturday, Sitharaman faced questions about the fall in the price of rupees. What challenges may the Indian currency face in the coming days? What steps are being taken? Answering this question, the finance minister said, "Rupee is not falling. In fact, the dollar is continuously strengthening.' Sitharaman also claimed that the Indian currency is in a relatively good condition compared to other currencies in the world.

• What is next?

It should be noted that, at the beginning of the week, the price of rupee fell to a minimum of 82.68 against the dollar.  Financial experts believe that this is happening because of the market collapse and the US Federal Reserve's tighter rules.  By the way, bond prices are falling in America.  This is a big problem for Indian currency.  Due to this whole situation, the pressure on the country's foreign exchange reserves is increasing.  In this situation, the opposition may be moved by Nirmala Sitharaman's comments.