No domestic reasons for rupee fall, only global: Jaitley
Economy

No domestic reasons for rupee fall, only global: Jaitley

New Delhi, Sep 5: Dismissing the criticism of the BJP government for fall in value of the Rupee vis-a-vis the US dollar, Finance Minister Arun Jaitley on Wednesday said there are no domestic reasons for it and that all reasons are global.

Addressing a press conference to brief about the decisions taken by the union Cabinet, Jaitley, replying to a question about the sharp fall of the Indian rupee against the US dollar, said, 'If you look at the domestic economic situation and global situation, there are no domestic reasons attributable to this, but all reasons are global.'

'We must bear in mind that dollar has strengthened against almost every currency. The rupee has either consistently strengthened or remained in a rage, not weakened. If one compares with most of the other currencies of the world, Rupee is better off compared to what it was 4-5 years ago, Jaitley said.

The comments by the Finance Minister comes amid criticism from opposition that fall in value of the Rupee is due to the government’s mismanagement of the economy. UNI