Rupee has gained against euro, yen: Centre
The Indian rupee has strengthened against major currencies such as the Euro, British pound and Japanese yen though it has weakened against the US dollar, Minister of State for Finance Pankaj Chaudhary said on Tuesday.
image for illustrative purpose
New Delhi: The Indian rupee has strengthened against major currencies such as the Euro, British pound and Japanese yen though it has weakened against the US dollar, Minister of State for Finance Pankaj Chaudhary said on Tuesday.
"Global factors such as the Russia-Ukraine conflict, soaring crude oil prices and tightening of global financial conditions are the major reasons for the weakening of the Indian Rupee against the US Dollar.
"Currencies such as the British pound, the Japanese yen and the Euro have weakened more than the Indian rupee against the US dollar and therefore, the Indian rupee has strengthened against these currencies in 2022," he said in a written reply in the Rajya Sabha.
The Reserve Bank of India (RBI) regularly monitors the foreign exchange market and intervenes in situations of excess volatility, he added.
