Union Finance Minister Nirmala Sitharaman in the course of the ‘Vikashita Bharat Sankalpa Samavesh’ program in Bangalore. |Photograph courtesy of PTI
Union Finance Minister Nirmala Sitharaman on Sunday (June 14, 2026) stated that the fluctuation of the rupee towards the US greenback is influenced by a spread of worldwide and home elements.
Chatting with reporters in Devanahalli, close to Bengaluru, throughout a program to mark the twelfth anniversary of Prime Minister Narendra Modi’s NDA authorities, Sitharaman stated world and home elements embody geopolitical uncertainty, overseas capital actions and India’s dependence on imports similar to crude oil, fertilizers and gold. “The Reserve Financial institution of India intervenes within the overseas change market solely to manage extreme volatility and to not preserve a hard and fast change fee,” he stated.
He defined that central banks act cautiously when there are sharp fluctuations within the forex market.
The Finance Minister identified that a number of worldwide developments have been influencing the motion of the rupee. These embody coverage choices by the US Federal Reserve, actions on the earth’s main currencies, and overseas funding inflows and outflows.
“The motion of the rupee towards the US greenback is formed by a number of elements, together with world financial uncertainty, US Federal Reserve coverage choices, fluctuations in main worldwide currencies, and overseas capital inflows and outflows,” Sitharaman stated.
Finance Minister targets Rahul Gandhi
In the meantime, Sitharaman launched a fierce assault on Congress opposition chief Rahul Gandhi, criticizing Modi and the federal authorities, accusing them of persistently undermining India’s achievements.
Addressing occasion officers on the Vikshit Bharat Sankalp Samavesha within the metropolis, Sitharaman alleged that Gandhi routinely criticizes the federal government’s efforts to focus on Modi and the Heart and belittles the achievements of Indian individuals.
“Each time an opposition chief speaks in Parliament, he solely criticizes the event of the Indian individuals and belittles the achievements, considering that he’s attacking the Prime Minister of India and the central authorities,” she added.
Sitharaman refuted claims that India was going through an imminent disaster, saying the nation’s financial fundamentals remained sturdy.
