Central Banks
India’s Rupee Will Endure Dollar Strengthening, Sitharaman Says
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Indian rupee banknotes at a store in Hyderabad.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
The Indian currency will withstand the recent strengthening of the dollar, Finance Minister Nirmala Sitharaman said, reiterating a central bank forecast that the South Asian economy will grow at 7% in the year to March, 2023.
“The Indian rupee has performed much better than many other emerging market currencies,” Sitharaman said at a media briefing in Washington D.C. late on Saturday. The country’s central bank was working to contain the rupee’s volatility, she said, adding that the “rupee will find its own level.”