New Delhi, October 13: Union Finance Minister Nirmala Sitharaman has said that the Reserve Bank of India (RBI) will continue its efforts to maintain stability in the Indian rupee amid fluctuations in the foreign exchange market.
Sitharaman attributed currency volatility largely to external factors, highlighting the influence of global economic developments on the rupee’s movement.
The Finance Minister emphasised the importance of maintaining stability in the currency market as international economic uncertainties continue to affect emerging economies, including India.
The RBI monitors foreign exchange market conditions and may intervene to curb excessive volatility while allowing the rupee’s value to be determined by market forces.
Global factors such as fluctuations in crude oil prices, foreign investment flows, international trade developments and movements in the US dollar can influence the Indian currency.
The remarks underscore the government’s focus on financial stability and the central bank’s role in managing excessive currency fluctuations amid changing global economic conditions.
