Press Esc to close
Friday 01 August 2014
News updated at 3:19 AM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

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
Vikas Shive Gowda of India throws the discus in the men's discus final...

Vikas Shive Gowda of India throws the discus in the men's discus final...

Babita Kumari of India holds up her gold medal as she poses for photographs...

Babita Kumari of India holds up her gold medal as she poses for photographs...

A diver is seen underwater during a practice session at the 2014 Commonwealth Games...

A diver is seen underwater during a practice session at the 2014 Commonwealth Games...

Palestinian firefighters inspects the damage of a destroyed milk factory...

Palestinian firefighters inspects the damage of a destroyed milk factory...

NDRF personnel with a body of a victim of landslide at Malin village...

NDRF personnel with a body of a victim of landslide at Malin village...

Abhisekh Bachchan with singer Usha Utthup cheers his team during Pro Kabaddi League match...

Abhisekh Bachchan with singer Usha Utthup cheers his team during Pro Kabaddi League match...

South Africa's Rhett Halkett in action against India's Chandanda Nikkin in CWG 2014...

South Africa's Rhett Halkett in action against India's Chandanda Nikkin in CWG 2014...

Abhisekh Bachchan greets his team players after Pro Kabadi League match win against Telugu Titans...

Abhisekh Bachchan greets his team players after Pro Kabadi League match win against Telugu Titans...

India's Yogeshwar Dutt celebrates after winning the Gold Medal in CWG 2014...

India's Yogeshwar Dutt celebrates after winning the Gold Medal in CWG 2014...

India's Navjot Kaur celebrates after winning a bronze medal against Scotland's Sarah Jones during...

India's Navjot Kaur celebrates after winning a bronze medal against Scotland's Sarah Jones during...

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