Fundamentals of rupee strong, nothing to worry: Mayaram
Zee Media Bureau/Rd. Alexander
New Delhi: With the Indian rupee hitting 62.84 against the dollar in the trade on Monday falling to a two-month, Economic Affairs Secretary Arvind Mayaram assured that the fundamentals of the rupee was very strong and there was nothing to worry.
On Friday, the rupee lost 73 paise to close a two-month low of 62.66 against the dollar due to strong buying of the US currency by banks and importers.
On Monday, the rupee fell further by about 20 paise to trade at 62.84 against the dollar.
The fall in the rupee also comes a day before the Reserve Bank of India reviews it policy on interest rates.
Despite the consensus that the central bank is likely to hold rates with decrease in inflation, all eyes will be on the man, Raghuram Rajan, after his recent hawkish comments.