Rupee's Dance: Navigating Global Currency Challenges

Finance Minister Nirmala Sitharaman addressed the depreciation of the rupee against the US dollar, in line with other Asian currencies, during a global economic uncertainty. The overvaluation of currencies poses challenges for exports, and the government, alongside the RBI, is taking steps to stabilize the Indian currency.

Nirmala Sitharaman, India's Finance Minister, highlighted the depreciation of the rupee against the US dollar on Thursday, a trend shared with other Asian currencies due to global economic uncertainties.

Speaking during the Union Budget 2025-26 debate in the Rajya Sabha, Sitharaman noted that overvalued currencies hurt national competitiveness, making exports costly and necessitating support for domestic firms.

The finance minister assured that both the Indian government and RBI are vigilantly working to stabilize the rupee amidst these challenges.

(With inputs from agencies.)