The Minister of Finance of the Union, Nirmala Sitharaman, quoted the former governor of RBI Raghuram Rajan as she approached the concerns about the depreciation of the break against the dollar during her Lok Sabha address Tuesday.
“The former governor of RBI Raghuram Rajan, who even participated in the Bharat Jodo Yatra, has recognized on January 15, 2025 that the fixation is always with the Rupee-Dollar exchange rate, the reality is that the dollar has strengthened with Many coins, including the euro … so it is really a problem in dollars, “he said during his address.
The finance minister stressed that monetary fluctuations have affected most of the main global economies. The minister said that between October of the previous year and January, the dollar index showed an increase of 6.5%. The Indian currency recently exceeded 87 for the first time in history.
The former Governor of RBI previously highlighted the strength of the dollar as the main factor behind the decrease in rapia in value.
They crack in a conversation with a digital news platform explained that the decrease in rupee is relatively modest compared to other currencies, which suggests that when seen through the real effective exchange rate, depreciation seems less significant.
