New Delhi:
Finance Secretary Tuhin Kant Pandey said on Monday that there is no concern about the value of the rupee and the Reserve Bank of India (RBI) is handling the instability of the local currency. He is between the Rupaye dollar to reach the all -time low of 87.29 against the dollar. This comment is made.
Pandey said, “There is no concern about the value of the rupee. Rupees fluctuations are being controlled by RBI. ”He said that the rate of Indian rupee is based on the market and no fixed rate is fixed for it.”
Rupee 87.29 per dollar
The Finance Secretary said that the exchange rate is facing pressure due to continuous withdrawal of foreign capital. The rupee fell by 67 paise to 87.29 per dollar on an all -time low on Monday.
Trump’s impact of tariffs on Canada, Mexico and China
The US President Donald Trump has declined a huge decline in local currency amid fears of comprehensive trade war after signing an order to impose tariffs on Canada, Mexico and China.
According to the stock market data, foreign institutional investors (FIIs) were selling on Saturday and purely sold shares worth Rs 1,327.09 crore.
India’s foreign exchange reserves rose to $ 629.557 billion
The Reserve Bank of India (RBI) on Friday informed that India’s foreign exchange reserves increased by $ 5.574 billion to $ 629.557 billion in the week ended January 24. Foreign exchange reserves have been declining for the last few weeks and the reason for this decline is being considered by the Reserve Bank of India (RBI) to reduce rupee fluctuations along with re-evaluation. .