Pune: The Indian Rupee has held “very well” against the US Dollar compared to other global currencies and has not been affected by “fluctuations or volatility” as much, Union Finance Minister Nirmala Sitharaman said on Saturday.
She, however, also assured that the government and the RBI were keeping a close watch on the situation.
“If any one currency which has held its own and did not get into fluctuation or volatility as much as other currencies, it is the Indian Rupee. We have held back very well,” said Sitharaman at a press conference here.
She further emphasized that her ministry and the RBI were keeping a close watch on the matter. She said that “The Reserve Bank of India and the ministry are keeping a very close watch on the situation,”. Responding to a question, Sitharaman suggested that while making an assessment of the rupee’s performance, the performance of the other major currencies should also be looked at.
Sitharaman was in Pune to review a meeting of centrally sponsored schemes. The Indian rupee fell to an all-time low against the US dollar on Friday, breaching the 81 mark, as the greenback strengthened on the back of the Federal Reserve repo rate hike.