Finance Minister Nirmala Sitharaman: global events and imports drive rupee
Business
Finance Minister Nirmala Sitharaman says the ups and downs of the Indian rupee are driven by global events like geopolitical tensions, US Federal Reserve decisions, shifts in major currencies, and changes in foreign investment.
On top of that, India's need to import essentials like oil and gold adds to these swings.
Sitharaman: RBI curbs volatility, economy strong
Sitharaman made it clear that the Reserve Bank of India doesn't try to control the rupee's value but steps in just to keep sudden spikes or drops in check.
She also reassured everyone that India's economy is strong, and there's no need to worry about a crisis right now.