# India not worried about weak rupee if other currencies depreciate - finance ministry official

> A senior Indian finance ministry official said New Delhi would not be concerned if the rupee fell to 80 per dollar, provided other currencies also depreciated. The rupee had hit an all-time low of 70.1 and has fallen more than 8 percent this year, with the RBI having spent about $23 billion on intervention.

- Date: 2018-08-14 · published 2018-08-14T12:00:00.000Z
- Category: policy · region India · magnitude low
- Page: https://feedsoft.ai/events/63798-india-not-worried-about-weak-rupee-if-other-currencies-depreciate-finance
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

The government's tolerance for further depreciation signals that the rupee may keep weakening, keeping Indian import costs elevated for commodities and energy.

## Read by commodity

- USDINR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/article/india-markets-rupee-government/update-1-india-not-worried-about-weak-rupee-if-other-currencies-depreciate-finmin-official-idUSL4N1V5461/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.