Finance Minister Pranab Mukherjee today said huge FII inflow reflected foreigners’ confidence in Indian growth story and was not a matter of concern as of now since the appreciation in the value of rupee was not abnormal.
“The rupee appreciation is not abnormal. As and when RBI feels that intervention is necessary, they start intervening. But I’m not too worried because our situation will not be of that level,” Mukherjee said ahead of G-20 Finance Ministers meeting here.
RBI had intervened in markets last week to restrain a sharply appreciating rupee.
