The price of the Indian rupee is determined by the market and there has been no decline in its value. This is a characteristic of a fixed exchange rate system. Union Finance Minister Nirmala Sitharaman said this on Monday.
Recently, the value of the Indian rupee reached an all-time low of Rs 87.29 against the US dollar. Domestic and global factors such as the position of the dollar index, capital flow, level of interest rates, fluctuations in crude oil prices and current account deficit affect the exchange rate of the rupee.
In a written reply to a question in the Lok Sabha, Sitharaman said, the Indian rupee has not depreciated, which is a characteristic of a fixed exchange rate system. He said the price of the Indian rupee is determined by the market. It does not have any fixed target or level. The Finance Minister said that devaluation of the currency can increase export competitiveness, which has a positive impact on the economy. However, the prices of imported goods can increase due to the fall in the value of the currency.
He said, when the value of the rupee decreases, it can affect the prices of goods in the domestic market. It depends on how the prices of the goods being sold in the international market increase and how this increase affects the market of our country. The minister said that imports in the economy depend on various factors, including the supply and demand of goods in the international market, the nature of tradable goods, freight charges, and the availability of substitute goods.
Responding to a question, he said that by the end of March 2024, insurance companies had pending insurance amount of Rs 21,718 crore, on which people have not been able to claim yet. In March 2023, this amount was Rs 23,699 crore and before that it was Rs 25,403 crore.
Pahalgam Terror Attack: Bollywood condemned the attack, and actors including Akshay-Sanjay Dutt shed tears after seeing the brutality
The horrific terrorist attack in Pahalgam, Kashmir has shaken the entire country. About 26 innocent people lost their lives in this attack, due to which there is an atmosphere of mourning and anger
MS Dhoni, you have to play IPL 2026, Mahi replied to the fan- take care of my knees...
Will Mahi play or not? There are still 7 months left for the next season of IPL, but one question that is on everyone's mind is whether MS Dhoni will play another season for CSK?
Was Rohit Sharma forcibly stripped of the ODI captaincy? Coach Gambhir came under fire for his comments on the 'Hitman'!
Indian team star batsman Rohit Sharma appeared in public for the first time since being removed from the ODI captaincy. On Tuesday, October 7th, he was given a special honor at the CEAT Cricket Rating
Parliament Security Breach: Breach in Parliament's security, a person entered the premises by jumping over the wall; Security forces caught him
There has been a major lapse in the security of the Parliament House once again. A person entered the Parliament House at around 6:30 am by jumping over the wall with the help of a tree. He reached
US Tariffs: 'Modi government's foreign policy has failed, ' Kharge said on Trump doubling the tariff to 50 percent
US President Donald Trump has imposed an additional 25% tax on goods coming from India. This tax has been imposed by India on buying oil from Russia. After this decision, a total of 50% tax will be
Shubman Gill wreaked havoc with the bat in England, breaking Rahul Dravid's 23-year-old record.
Indian Test captain Shubman Gill made a historic record on English soil on 13 July. He broke the 23-year-old record of former Indian cricketer Rahul Dravid.
Saiyaara Sequel: After the tremendous success, will the sequel of Saiyaara come? The actor gave a big update about Part 2
The craze of Ahaan Pandey and Anit Padda starrer Saiyaara is on the rise among cinema lovers. The low-budget film of non-A-listers has wiped out many films at the box office in just a week. This film
Shubhanshu Shukla: Shubhanshu created history by flying to space, emotional parents said - they are proud of him
The parents of Air Force Group Captain and Indian astronaut Shubhanshu Shukla became emotional about their son's achievement. They had come to attend a program of CMS located on Kanpur Road.
Jagdeep Dhankhar: Dhankhar was seen for the first time after his resignation, sitting next to Radhakrishnan, smiling and clapping
Chandrapuram Ponnusamy Radhakrishnan was sworn in as the 15th Vice President of India on Friday. President Draupadi Murmu administered the oath to 67-year-old Radhakrishnan at a ceremony at
Champions Trophy 2025: Every decision in the final will be closely monitored, keeping this in mind, ICC announced the names of the umpires
The final match of the Champions Trophy 2025 will be played between India and New Zealand in Dubai on Sunday. The ICC has announced the names of the umpires for this high-profile match.
