Too early to talk of forex war: FM
Speaking to Reuters Television, Chidambaram said: “It’s still early to call this a currency war; only Japan has depreciated its currency. What choice does it have? They have to get growth up, they cannot continue with zero growth any longer.”
But Chidambaram said he was worried about the potential impact of any further competitive devaluations on India, which has Japan, China and other Asian states as major trade partners.
“I sincerely hope other countries do not get into competitive depreciation of their currencies,” Chidambaram said.
Be the first to comment.