NEW DELHI: Piyush Goyal, minister of commerce and industry, the Indian rupee has exhibited greater resilience recently than the majority of other currencies, and the compounded average growth rate of depreciation is lower than it was before to 2014.
He said that exporters should stand on their own, depending on the calibre of their goods and their capacity to meet the needs of customers on the international markets, rather than being reliant on the rupee's depreciation. "There isn't a comfortable or uncomfortable level for the rupee, in my opinion. Rupee establishes itself. It depends on a number of organic variables, including inflation, capital flows, and each country's risk-to-reward ratio.
I'm glad the Indian rupee has outperformed other currencies in recent years in terms of resiliency "Goyal stated during a media event. The minister responded to a question regarding the comfortable level of the rupee at which it does not harm imports and makes exports competitive.
"The CAGR (Compounded Annual Growth Rate) of the Indian rupee's depreciation, when only considered prior to 2014, was in the vicinity of 3.25–3.5%. The strength of the Indian rupee has significantly increased since it is currently degrading at a rate of roughly 2.5% CAGR."
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