Rupee's free fall: How it will impact you
Government has taken a number of steps to stem the depreciation of Indian rupee including moderation in demand of non-essential imports and enhancing supply of capital flows, Finance Minister P Chidambaram said."A number of steps have been taken to moderate demand of non-essential imports on April 12, 2013, enhance capital flows to augment supply of foreign exchange and curb speculation in the foreign exchange market to stem the rupee depreciation," Chidambaram said in a written reply to Lok Sabha on Tuesday.
He said fall in value of rupee in the recent period is due to supply-demand imbalance in domestic foreign exchange market on account of elevated levels of current account deficit (CAD) and volatility in capital flows, particularly FII inflows.
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