Press Esc to close
Monday 03 August 2015
News updated at 2:06 AM IST
Weather
Max: 32°C
Min : 20°C
In Bengaluru
Rain lightly

Rupee to recover in 2-3 months: Govt

Mumbai, Nov 24, 2012, PTI :

Even as the rupee plunged to a 10 -week low against US dollar on Friday erasing almost the entire gains it made since the recent reform waves, the finance ministry has expressed optimism of a recovery before the fiscal-end and ruled out any intervention by RBI.

“We are quite hopeful that the rupee will strengthen in next two-three months,” Economic Affairs Secretary Arvind Mayaram told reporters at the concluding day of the two-day Asia Securities Forum here.

Mayaram hoped the currency will appreciate once the economy is back on an upward curve without any effective intervention by the RBI.

“I don’t think RBI would have to effectively intervene for strengthening the rupee. We believe, once the slowdown bottoms out, the rupee will strengthen”.

The rupee lost nearly 4 per cent against the dollar in November alone, becoming the worst loser among the leading global currencies for the month. Last year, the Indian unit was the second worst performer after the ‘real’ of Brazil, losing close to 20 per cent.

On the back of reform initiatives on September 14 and October 5, the rupee had rallied 5.1 per cent to close at 51.37 to the dollar.


Go to Top

Photo Gallery
A bike rally organized by Mangalore Java Yezdi Motorcycle Club and The United Bikersí of Mangaluru..

A bike rally organized by Mangalore Java Yezdi Motorcycle Club and The United Bikersí of Mangaluru..

Kids testing ice cream cone on the occasion of 'Friendship day'...

Kids testing ice cream cone on the occasion of 'Friendship day'...

A girl takes selfie with her friends on the occasion of 'Friendship day' near UB City in Bengaluru..

A girl takes selfie with her friends on the occasion of 'Friendship day' near UB City in Bengaluru..

'Suravi Odissi dance students presenting Odissi dance at the Naman, a festival of Odissi dance...

'Suravi Odissi dance students presenting Odissi dance at the Naman, a festival of Odissi dance...

A view of a flooded road on the banks of river Ganga, pictured after heavy monsoon rains...

A view of a flooded road on the banks of river Ganga, pictured after heavy monsoon rains...

Actor Kangana Ranaut walks the ramp as the showstopper for designer Manav Gangwani...

Actor Kangana Ranaut walks the ramp as the showstopper for designer Manav Gangwani...

A stray dog takes the support of a woman to cross a flooded street in Kolkata on Sunday...

A stray dog takes the support of a woman to cross a flooded street in Kolkata on Sunday...

School children pay tribute to former President APJ Abdul Kalam at Jodhpur...

School children pay tribute to former President APJ Abdul Kalam at Jodhpur...

A pair of squirrel in New Delhi on Sunday...

A pair of squirrel in New Delhi on Sunday...

A pair of Myna in New Delhi on Sunday...

A pair of Myna in New Delhi on Sunday...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523