Falls in Indian rupee, stocks not exceptional: Shaktikanta Das

By: | Updated: February 11, 2016 1:30 PM

The decline by the Indian rupee against the U.S. dollar is not exceptional and the currency is performing relatively well, a senior finance ministry official said on Thursday.

Shaktikanta DasEconomic Affairs Secretary Shaktikanta Das said while the Indian rupee had declined by 6.5 percent against the U.S. dollar since last April, it has actually risen against the euro and the yen while holding its own against the sterling. (Photo: PTI)

The decline by the Indian rupee against the U.S. dollar is not exceptional and the currency is performing relatively well, Shaktikanta Das said on Thursday.

Economic Affairs Secretary Shaktikanta Das said while the Indian rupee had declined by 6.5 percent against the U.S. dollar since last April, it has actually risen against the euro and the yen while holding its own against the sterling.

Das, briefing reporters ahead of the Feb. 29 federal budget, downplayed weakness in Indian stocks, which have wiped out gains since Prime Minister Narendra Modi won power in May 2014.

He said Indian markets were performing relatively well and that their decline was driven by global trends.

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