FM: Re has ‘held back very well’ against dollar compared to peers Sitharaman | Business News,The Indian Express
Against the backdrop of the rupee dropping to a lifetime low against the greenback, Sitharaman said the Reserve Bank and the finance ministry are keeping a very close watch on the situation.
Sunday, Sep 25, 2022
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HomeBusinessFM: Re has ‘held back very well’ against dollar compared to peers Sitharaman
FM: Re has ‘held back very well’ against dollar compared to peers Sitharaman
Against the backdrop of the rupee dropping to a lifetime low against the greenback, Sitharaman said the Reserve Bank and the finance ministry are keeping a very close watch on the situation.
By: Express News Service
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New Delhi | Updated: September 25, 2022 1:03:56 am
Finance Minister Nirmala Sitharaman. (File)Finance Minister Nirmala Sitharaman on Saturday said that the rupee has “held back very well” against the US dollar when compared to other currencies of the world.
The rupee breached the 81-mark against the dollar for the first time on Friday, before settling at 80.98, as the greenback continued to strengthen against all other major currencies following an aggressive rate hike announcement by the US Federal Reserve.
When asked about the all-time low that the rupee hit against the greenback on Friday, she said the Reserve Bank of India and the Finance Ministry are keeping a very close watch on the situation.
On the rising inflation, the Finance Minister said the union government was taking all possible steps to check the price-rise situation and ensure that common citizens do not suffer.
Sitharaman’s comments came at the end of her three-day tour of Baramati Lok Sabha constituency.
Rating: 5