Picture : @FinMinIndia/X
Chief Economics Adviser V Anantha Nageswaran has said the government is not losing sleep over declining rupee, which has breached the 90-level against the greenback.
However, he expressed hope that it should improve next year. “It will come back next year. Right now, it’s not hurting our exports or inflation. I am not losing my sleep over it. If it has to depreciate, now probably is the right time,” Nageswaran said on the sidelines of a Confederation of Indian Industry (CII) event in New Delhi, reported PTI
The rupee has depreciated about 5 per cent against the US dollar in 2025. The rupee plummeted to a new low of 90.30 against the greenback in the intra-day session on Wednesday, falling 34 paise from its previous close, amid FII outflows and sustained buying of dollars by banks. A decline in the domestic equity markets and the absence of an India-US trade deal put further pressure on the local unit, according to forex traders.
