Press Esc to close
Saturday 28 February 2015
News updated at 10:49 AM IST
Weather
Max: 31.7°C
Min : 16.9°C
In Bengaluru
clear sky

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 performance by the Gurkha Band of the British Army at the Queen's Birthday Party

A performance by the Gurkha Band of the British Army at the Queen's Birthday Party

Railway Minister Suresh Prabhu in the Rajya Sabha during Budget Session

Railway Minister Suresh Prabhu in the Rajya Sabha during Budget Session

RJD chief Lalu Prasad Yadav performs ritual at the marriage of his daughter Raj Laxmi with Tej Prat

RJD chief Lalu Prasad Yadav performs ritual at the marriage of his daughter Raj Laxmi with Tej Prat

Activists shout patriotic slogans as they pay tributes to the freedom-fighter Chandrashekhar Azad

Activists shout patriotic slogans as they pay tributes to the freedom-fighter Chandrashekhar Azad

Foreign delegates pose for a group photo at Parliament House

Foreign delegates pose for a group photo at Parliament House

Swine Flu vaccination program at a school in Bikaner

Swine Flu vaccination program at a school in Bikaner

Social Activist Anna Hazare addresses farmers protesting against the Land Bill in Meerut

Social Activist Anna Hazare addresses farmers protesting against the Land Bill in Meerut

Crime Branch seizes fake currency worth more than Rs 2.5 Lakhs

Crime Branch seizes fake currency worth more than Rs 2.5 Lakhs

Memebers in the Lok Sabha during the Budget session

Memebers in the Lok Sabha during the Budget session

Students march and light flares during the second day of student strike in Madrid, Spain...

Students march and light flares during the second day of student strike in Madrid, Spain...

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