According to the Finance Minister Arun Jaitley rupee has fared well against dollar in the past few months, when compared to the currencies of the other emerging countries. Mr. Jaitley credits India’s Forex reserves for this stability.
While addressing a gathering at the Enforcement Day function organized by the Directorate of Enforcement in New Delhi on Friday, Mr. Jaitley said that one of the reasons rupee has remained stable against a strengthening dollar in the last few months is because most other currencies in the world whether it’s Brazil, Russia or most of the European currencies, have depleted substantially.
He added that to a large extent the rupee is among the few currencies, which have struggled to keep pace with the dollar though there has been a slight depletion.
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