Arun Jaitley says, No need to panic over rupee devaluation

Updated on: 05 September,2018 09:36 PM IST | New Delhi
IANS |

According to Jaitley, the recent trend in the Indian rupee's devaluation has been caused due to external factors such as fluctuations in the global crude oil prices, trade war tensions and outflows of funds towards the US

Finance Minister Arun Jaitley on Wednesday said there is no need to worry over the steep fall in the Indian rupee's value against the US dollar as the inherent strength of the country's economy will aid in arresting the downtrend.

"No need for the world's fastest-growing economy to come out with panic and knee-jerk reaction...," Jaitley said at a media briefing after the meeting of the Union Cabinet.

Catch up on all the latest Crime, National, International and Hatke news here. Also, download the new mid-day Android and iOS apps to get latest updates

This story has been sourced from a third party syndicated feed, agencies. Except for the change in the headline, the story has been provided "AS-IS," "AS AVAILABLE, without any verification or editing from our side. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

"Exciting news! Mid-day is now on WhatsApp Channels