Rupee fall may or may not help exports, says FM Nirmala Sitharaman

Sitharaman said the central bank has used nearly $75 billion to stop fluctuations and severe volatitlies in rupee-dollar exchange rate

Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman

Nikesh Singh
Finance minister Nirmala Sitharaman on Monday said though a depreciating rupee should theoretically help India’s exports, under currency slump in external demand, the fall in the local currency may or may not help the country’s exports.

“Some people do also speak that a falling rupee also helps exports. Whether it does or doesn’t, theoretically it may, but in today’s condition, with recession outside and demand not really as adequately as it should be, even a fall in the rupee may or may not help our exports. We are conscious about these basic facts,” Sitharaman said while answering a question at an event organised by CNN-News18.    

On rupee touching a fresh low, Sitharaman said because of the strength of India’s

First Published: Sep 26 2022 | 10:21 PM IST

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