Value of rupee is not declining, rather, value of dollar is strengthening; responds Nirmala Sitharaman to media queries on rupee depreciation

NEW DELHI: Union Finance Minister, Nirmala Sitharaman, said that the value of the rupee is not declining but rather the value of the dollar is appreciating globally. The Minister was responding to questions by the media asking her about why the rupee has declined to the dollar.

The PNI quizzed her about the value of the rupee which stands at Rs.82.69 to the dollar. To this, she responded that the value of the dollar is strengthening globally. It does not mean that the value of the Indian rupee is depreciating. However, the rupee has performed better than the currencies of other emerging markets, she said.

#WATCH | USA: Finance Minister Nirmala Sitharam responds to ANI question on the value of Indian Rupee dropping against the Dollar as geo-political tensions continue to rise, on measures being taken to tackle the slide pic.twitter.com/cOF33lSbAT

— ANI (@ANI) October 16, 2022

Nirmala Sitharaman was speaking to the media after diplomatic discussions during her visit to the United States.