Indian rupee has shown more resilience than most of the other currencies in recent years and the compounded average growth rate of depreciation is lower as compared to pre-2014, commerce and industry minister Piyush Goyal has said.
He also said that exporters should not be dependent on a depreciating rupee and they should stand on their own based on the quality of products and ability to serve the needs of customers in the global markets.
"I do not think there is any comfortable or uncomfortable level for the rupee. Rupee finds its own place. It's a function of several natural factors -- a function of inflation, capital flows and the risk-reward ratio in each country. I am happy that the Indian rupee has shown more resilience than most of the currencies in recent years," Goyal said in a media interaction.
To a query on what could be the comfortable level of the rupee where it does not hurt imports, and make exports competitive, the minister said: "If you look at the Indian rupee ...
