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Finance Ministry, RBI Keeping Close Watch on Rupee

The Finance Ministry today said it, along with the Reserve Bank, is keeping a close watch on the currency movement.

Published: 16th January 2016 06:23 AM  |   Last Updated: 16th January 2016 06:29 AM   |  A+A-

2015-12-16T065210Z_1_LYNXMPEBBF0D0_RTROPTP_3_INDIA-RUPEE-CONVERTIBILITY

A person counts rupee notes in Ahmedabad, India, May 6, 2015. | Reuters

NEW DELHI:  With the rupee falling to 67.38 against the US dollar, the Finance Ministry today said it, along with the Reserve Bank, is keeping a close watch on the currency movement and asserted that current account deficit will remain well under control.

The government, Economic Affairs secretary Shaktikanta Das said, will stick to the fiscal deficit roadmap for this year as well as the next.

“Finance Ministry and RBI keeping close watch on currency movements. Current Account Deficit expected to be in the range of 1-1.3 per cent in current year. Well under control,” Das tweeted.

Not only Rupee, but

other comparable currencies too are depreciating against dollar, he said, adding that the “positive for India is that the  CAD is well under control”.

Das said the government will initiate new reform measures in near future and will further open up sectors to attract foreign direct investment. He said the path of fiscal consolidation will be adhered to.

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