The Indian rupee is depreciating against the US dollar. Last week, the value of one dollar reached 82 rupees 69 paise. On this, the country’s Finance Minister Nirmala Sitharaman said that the rupee is not falling, but the dollar is getting stronger. She said that due to geo-political tension, the dollar is seeing a rise. This statement of the Finance Minister has come during a conversation with the media on the US tour.
Indian rupee stronger than others
The Finance Minister said that the Indian Rupee is in a very good position against other emerging market currencies. Because there has been a huge decline in other currencies against the dollar. While the Indian rupee has depreciated less. She said that the Indian rupee is probably ticking in front of the strengthening dollar. The rupee has seen a decline of more than 10 percent in 2022 against the dollar. The figure for the fall so far in 2014 is more than 40 percent. According to rating agency Icra, the value of rupee can go beyond 83.
India’s economy is better, forex reserve is also enough
She said that the country’s economy and forex reserves are in good shape. We are in a comfortable position and that is why I am saying again and again that inflation is also in the containment zone. We are trying to bring it down in the coming days.
India to chair G-20
The Finance Minister, who went to attend the annual meetings of the IMF and the World Bank, said that India is targeting to develop SOP for cryptocurrencies during the G-20 next year. She made it clear that crypto will also be the agenda for India in the meeting. India will chair the G20 from 1 December 2022 to 30 November 2023. During this it will host more than 200 countries.
She said that many G-20 member countries have raised concerns about money laundering, drug trade. Everyone agrees that some kind of regulation is needed and all countries have to come together on this, because no one country can handle it alone. Then only we will be able to do something. The Reserve Bank of India (RBI) has also expressed its concern regarding cryptocurrencies.
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