At present the Indian currency Rupee is facing problems. There is a continuous decline in the rupee against the dollar. The government’s concern has also increased due to the strengthening of the dollar. On Wednesday, there was a record fall in the rupee and it broke the level of 90 and reached an all-time low. The biggest reason for this decline is the strength of the dollar in the market. The demand for dollars is increasing, due to which the rupee is continuously falling. Apart from this, continuous selling by foreign investors, geopolitical uncertainty and delay in US-India trade deal are also a major reason for this.
Now Finance Minister Nirmala Sitharaman has also given a big statement regarding this big fall in the rupee. Nirmala Sitharaman believes that the Indian currency will find its own way amid the strong growth outlook for India.
In fact, in the 23rd edition of Hindustan Times Leadership Summit, Finance Minister Nirmala Sitharaman gave a statement regarding the decline in the rupee. The Finance Minister said that ‘the rupee will have to find its own path.’ In fact, it has also been emphasized by the Finance Minister that the rupee should not be compared with the past conditions. At this stage the current economic reality should be taken into account. The Finance Minister says that ‘one should look at the current growth and look at the fundamentals of the economy. The debate on this should be decided according to the current reality, and not by direct comparison with past situations.
Finance Minister Nirmala Sitharaman says that when the value of rupee decreases, exporters should take advantage of it. Incidentally, some people say that it brought some relief at that time. Even if this is true, I am not completely satisfied with that explanation. But it is also true that the strength of the economy should also be assessed. Let us inform you that in recent times there has been a record decline in the rupee. The rupee has fallen from 85 to 90 in the last 8 months. The rupee made its all-time low on December 4. On December 4, the rupee reached an all-time low of 90.46 against the dollar. The most shocking thing is that retail inflation is at a record low, while GDP growth is also above 8%. But despite this the domestic rupee is weakening.
