New Delhi: The Indian currency rupee is steadily declining against the US dollar. Meanwhile, a big statement from Reserve Bank of India (RBI) Governor Shaktikanta Das has come out. RBI Governor Shaktikanta Das said the Indian rupee is in a relatively strong position compared to currencies of developed economies and developing countries. Let us know that the rupee has crossed the level of 80 against the dollar.  

Shaktikanta Das said the central bank will not tolerate sharp fluctuations and volatility in the rupee at all. He said the RBI's steps have helped in the smooth trade of rupees. Shaktikanta Das said the RBI is supplying US dollars to the market and thus ensuring an adequate supply of cash (liquidity) in the market. He also clarified that the RBI has not set any particular level of the rupee target.

Shaktikanta Das further said that there is no need to bother with unrestricted borrowings of foreign exchange. He said a large number of such transactions are being carried out by public sector companies and if required, the government can intervene and help.

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