look news india
New Delhi: The performance of the Indian rupee has remained strong in 2024 compared to the currencies of Japan and South Korea. State Finance Minister Pankaj Chaudhary said in a written reply to a question in the Rajya Sabha that the devaluation of the rupee against the dollar has been very less.
As of July 24 of the current year, the rupee has depreciated by only 0.60 per cent against the dollar, while the Japanese yen has fallen by 8.40 per cent and the South Korean currency by 6.70 per cent.
Despite global challenges, the stability of the rupee provides evidence of strong economic fundamentals, macroeconomic and financial stability in the country.
Chowdhury said, the dollar index has strengthened by 3 per cent and every G10 currency except the British pound has declined by more than 1 per cent against the dollar. The devaluation of the currency makes the situation favourable for exports. But at the same time imports also increase.