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Govt not worried by volatility in exchange rate: Fin secy Pandey
Mint New Delhi
|February 04, 2025
Finance and revenue secretary Tuhin Kanta Pandey said on Monday the Indian rupee remains a free-floating currency and that the government is not alarmed by exchange rate fluctuations, which are driven by cross-border capital flows.
This comes as the rupee tumbled to a record low of 87.29 against the dollar, dropping 67 paise in early trade, following fresh tariffs imposed by US president Donald Trump on some countries, sparking fears of a broader trade war.
"Currency volatility is an issue that the RBI (Reserve Bank of India) looks into, but otherwise, it is a free-floating system. See, there will be such episodes where when something is there," Pandey told Mint, referring to external events, adding that capital outflow will have an impact on exchange rate.
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