RBI Governor Shaktikanta Das said - Indian rupee's position is strong in comparison to the currencies of developed countries
RBI Governor Shaktikanta Das said on Friday that the Indian rupee is in a relatively strong position against the currencies of developed economies and developing countries.
Staff Editor 
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday that the Indian rupee is in a relatively strong position against the currencies of developed economies and developing countries. Significantly, the domestic currency had crossed the level of Rs 80 per dollar a few days ago. The RBI governor said that the central bank will not tolerate sharp fluctuations and volatility in the rupee at all. He said that RBI's steps have helped in smooth trading of rupee.
Das said that the Reserve Bank of India is supplying US dollars in the market and thus ensuring adequate supply of cash (liquidity) in the market. He also clarified that RBI has not fixed any specific level of rupee target. The RBI governor said that there is no need to worry about unrestricted borrowing of foreign currency.
He further said that a large number of such transactions are being done by public sector companies and the government can intervene and provide help if needed. Das said the current framework for inflation targeting, adopted in 2016, has worked very well, insisting that it should continue in the interest of the economy and the financial sector.
