Indian rupee today breached the 66-mark against the US dollar for the first time in history during the mid session. A strong US currency overseas and capital outflow also weighed down the rupee, pulling it to the lowest it has ever been, against the dollar.
Indian finance minister told to Rajya Sabha that rupee will find its appropriate level. "There are not just external factors, there are also domestic factors. We recognise there are domestic factors. One of the domestic factors is that we allowed the fiscal deficit to be breached and we allowed current account deficit to swell because of certain decisions that we took during the period 2009 to 2011," he said.
Indian finance minister told to Rajya Sabha that rupee will find its appropriate level. "There are not just external factors, there are also domestic factors. We recognise there are domestic factors. One of the domestic factors is that we allowed the fiscal deficit to be breached and we allowed current account deficit to swell because of certain decisions that we took during the period 2009 to 2011," he said.
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