Piyush Goyal: Indian Rupee shows more flexibility than other currencies, says Commerce Minister in the US

Commerce and Industry Minister Piyush Goyal has said that the Indian rupee has shown greater resilience than most other currencies in recent years. He said that the compound average growth rate of depreciation during this period is lower than before 2014. Speaking in Los Angeles during his US visit, he said that exporters should not depend on the falling rupee and should stand on their own based on the quality of the products and their ability to meet the needs of the customers in the global markets.

In a conversation with the media, the Union Minister has said that I do not think there is any comfortable or uncomfortable level for the rupee. Rupee makes its place. It depends on several natural factors, including inflation, capital flows, and the risk-reward ratio in different countries. He said that I am happy that the Indian rupee has shown greater resilience than most other currencies in recent years.