April 29, 2024 05:50 (IST)
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Rupee finding its own course, forex reserves adequate: Nirmala Sitharaman dismisses opposition's concern over economic crisis

Rupee finding its own course, forex reserves adequate: Nirmala Sitharaman dismisses opposition's concern over economic crisis

New Delhi: A few days after former RBI Governor Raghuram Rajan and ex-NITI Aayog Vice-Chairman Arvind Panagariya dismissed concerns over the possibility of India facing a Sri Lanka-like economic crisis, Finance Minister Nirmala Sitharaman Tuesday told Rajya Sabha the rupee's fall against the USD was not alarming and the unit has performed better than its peers.

India's forex reserves slumps by $9.64 billion, the biggest drop in last 2 yrs

India's forex reserves slumps by $9.64 billion, the biggest drop in last 2 yrs

India's foreign exchange (forex) reserves dipped by $9.646 billion to $622.275 billion in the week ended March 11, the biggest drop in almost two years, as the Reserve Bank of India (RBI) engaged in selling dollars to prevent the erosion in the value of rupee.