No Need for Alarm... The Rupee is Stable: Nirmala
Finance Minister Nirmala Sitharaman clarified in Parliament that there is no need for concern regarding the depreciation of the Indian Rupee. She stated that since the onset of the war, the Rupee had declined by 4.1% as of March 27. However, she noted that other currencies—such as the South Korean Won (4.6%), Thai Baht (5.5%), and Philippine Peso (4.8%)—had depreciated even more significantly than the Rupee. It was stated that the Indian economy is robust and that India is receiving accolades for keeping its fiscal deficit under control.
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