New Delhi: The Indian rupee continued its decline, touching the 90-mark against the US dollar, prompting criticism of the central government. As of Sunday, the currency was trading at Rs 89.96 per dollar, while the recent low of Rs 90.43 had raised concerns across financial and political circles.
Finance Minister Nirmala Sitharaman addressed the issue at the Hindustan Times Leadership Summit, stressing that market forces should primarily determine the rupee’s value. She cautioned against excessive government intervention and politicization of currency fluctuations, noting that exchange rates are highly sensitive.
Sitharaman urged stakeholders to focus on India’s long-term growth trajectory, projecting 7 percent or higher for the 2026 fiscal year. She emphasized that current rupee levels should not be directly compared with past trends, highlighting the broader economic context.
The minister also pointed out that a weaker rupee is not entirely negative, as it can benefit exporters and enhance the competitiveness of Indian goods in global markets. According to Sitharaman, strategic handling of the currency alongside growth-focused policies remains key to sustaining economic resilience.