New Delhi: Suggesting that there is nothing to worry about depreciation of Indian currency, Economic Affairs Secretary Subhash Chandra Garg termed the cause to be external factors.
Commenting on Tuesday’s plunge of Indian Rupee, DEA secretary said, “There is nothing to worry at this stage. The rupee is depreciating due to external factors which may ease as we go forward”.
The depreciation of Indian currency in terms of the per-dollar mark is being attributed to the fall of Turkish Lira, which in turn helped the US dollar to gain strength after it was feared that economic crisis of Turkey could spread to other global economies, as per a report by money control.
Yesterday also the Indian currency has registered a decline of 110 paise coming from Friday’s close of 68.83 to Monday’s 69.93.
Previously on July 20th, the INR touched an all-time low against the US dollar at 69.05.