New Delhi: The rupee dropped 36 paise to 73.93 against the US currency in early trade Monday, breaking its three-day recovery trend, as crude prices rose amid weak macroeconomic data. A spurt in dollar demand from importers amid sustained foreign fund outflows also weighed on the rupee. The Finance Ministry has said that they are working overtime to ensure that the Rupee comes back to the average level which is acceptable to the economy.
On the allegations that the Dollar has totally overshadowed and molested the Rupee in the recent times, the ministry said that Dollar will find a way to Atone itself for all the alleged actions against the Indian Rupee. In fact, ‘Atone’ and ‘Alleged Actions’ are the favorite words used by people to support any movement nowadays. Farah Khan and Farhan Akhtar used it recently to condemn the Sexual Harassment case against Sajid Khan and many others in the industry as part of the #MeToo movement going on in India.
The Finance ministry led by Arun Jaitley is pretty sure that Dollar will suffer because of the ill-treatment it meted out to the Rupee and whole India is in support with the Rupee right now. On being asked what are the steps his government is taking in this regard, Arun Jaitley said that” The government can’t do anything in this regard and the cycle will take its own due course. The Rupee will have to fight against the Dollar on its own, only then can it become stronger.”