Rupee Hits Record Low: Finance Minister Sitharaman Weighs in on Currency Depreciation Amid Market Turmoil
The Indian rupee has plummeted to a historic low, crossing the 87 mark against the US dollar for the first time on February 3. This significant decline is in line with the current market volatility, as South Asian and G-10 currencies have also experienced a substantial depreciation of over 5%. The recent currency fluctuations have sparked concerns about the impact on the Indian economy, with experts closely watching the situation. As the rupee's value continues to drop, investors are seeking reassurance from Finance Minister Sitharaman, who is expected to address the issue and provide guidance on the government's plan to mitigate the effects of the depreciation, using strategies such as foreign exchange management and monetary policy adjustments.
