Rupee fall doesn't reflect economy's fundamentals

Currency a casualty of drying up of foreign inflows, says Survey

- CHRISTINA TITUS

ON A DAY when the rupee crossed 92 against the dollar for the first time on Thursday, the Economic Survey asserted that the Indian currency's valuation does not accurately reflect India's stellar economic fundamentals.

The Survey added that the Indian currency has become a casualty of foreign inflows drying up, but an undervalued rupee does not hurt as it offsets the impact of higher US tariffs on Indian goods to some extent and there is no threat of higher inflation from higher-priced crude oil imports now.