Not worried about rupee's fall, says finance secretary

THERE IS NO concern over the falling value of rupee, against the US dollar, as such events do occur in times of unabated outflow of foreign funds, finance secretary Tuhin Kanta Pandey said on Monday.

- PRIYANSH VERMA

"The Reserve Bank of India (RBI) is managing the volatility of the rupee...but it's a free-float system," Pandey said. The rupee on Monday depreciated 67 paise to hit a record low of 87.29-a-dollar after US president Donald Trump imposing tariffs on Canada, Mexico and China triggered fears of a broad trade war.

Pandey said the depreciation of the Indian currency will certainly have an impact on imports, which can turn expensive and stoke inflation, but added that exports will become more attractive.