Rupee Watch: Economic Moves Amidst Currency Slump

The Indian government and regulators are closely monitoring the rupee's decline below the 90 mark against the US dollar. If the currency weakens further, measures may be implemented. Economic Affairs Secretary Anuradha Thakur highlighted potential export benefits of depreciation and recent budget provisions to support investment and currency inflows.

The Indian rupee has dipped below the 90 mark against the US dollar, prompting close monitoring by the government and regulatory bodies. Economic Affairs Secretary Anuradha Thakur emphasized the significance of this change, stating that authorities are prepared to take action if conditions worsen.

Despite concerns over the rupee's depreciation, Thakur noted that it can enhance export competitiveness. She stressed the collective role of regulators and other stakeholders in observing the situation to prevent discomfort or crisis.

In related economic moves, the recent budget accommodates Alternative Investment Funds' demands and proposes increased investment limits for Persons Resident Outside India. These measures aim to boost foreign currency flow and stabilize the economic landscape, as Finance Minister Nirmala Sitharaman outlined in her speech.

(With inputs from agencies.)