Not concerned about rupee value, RBI managing volatility: Finance Secretary
New Delhi (PTI): Amid rupee falling to a record low level of 87.29 to a dollar, Finance Secretary Tuhin Kanta Pandey on Monday said there is no concern over rupee value and the Reserve Bank of India is managing the volatility of the local currency.
"There is no concern about the value of the rupee. The volatility in rupee is being managed by the RBI," Pandey told reporters.
He said the Indian rupee is "free-float" and no control or fixed rate is applicable on the currency.
He said the exchange rate is facing pressure amid unabated foreign fund outflows.
The rupee depreciated 67 paise to hit record low of 87.29 against the US dollar in early trade on Monday after Trump Tariffs on Canada Mexico and China triggered fears of a broad trade war.
Donald Trump slapped Canada and Mexico with 25 percent duties and China with a 10 percent duty, The move was the first strike in what could usher a destructive global trade war, forex traders said.
In 2025, the Indian rupee depreciated 1.8 percent from the 85.61 to a dollar level on December 31, 2014.
The rupee continued to face pressure due to sustained foreign fund outflows and the broad strength of the American currency in the overseas markets due to unabated dollar demand from oil importers and weak risk appetite.
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Sujit Nair raises concerns over speculation of DMK-AIADMK understanding to block TVK
Chennai: Journalist and political commentator Sujit Nair has expressed concern over speculation that the Dravida Munnetra Kazhagam and the All India Anna Dravida Munnetra Kazhagam could explore a post-poll understanding to prevent Vijay-led Tamilaga Vettri Kazhagam from forming the government in Tamil Nadu.
In a social media post, Sujit Nair said the election verdict in Tamil Nadu reflected a clear public demand for political change and argued that the mandate should be respected irrespective of political preferences.
Referring to reports and political discussions surrounding a possible understanding between the DMK and AIADMK, he said he hoped such developments remained only speculative conversations and did not turn into reality.
Nair stated that if such an alliance were to take shape, it would raise serious questions about ideological politics in the country. He said TVK had emerged through a democratic electoral process and that the legitimacy to govern in a parliamentary democracy comes from the people’s verdict.
According to him, attempts to prevent an electoral winner from forming the government through unexpected political arrangements may be constitutionally valid, but many people could view them as politically opportunistic.
He further said that such a move could particularly affect the political image of the DMK, which has historically projected itself around ideology, social justice and opposition politics. Nair said that in ideological terms, the DMK appeared closer to TVK than to the AIADMK, and joining hands with its long-time political rival only to remain in power could weaken its broader political narrative.
He added that the same questions would apply to the AIADMK as well, as the party had spent decades positioning itself against the DMK and such an arrangement could create discomfort among its cadre and supporters.
Drawing a comparison with Maharashtra politics in 2019, Nair said he had expressed similar views when the Shiv Sena formed an alliance with the Indian National Congress and the Nationalist Congress Party after the Assembly elections.
He said post-poll alliances between long-standing political rivals often create a public perception that ideology and electoral mandates become secondary when political power equations come into play.
Nair also said such developments increase public cynicism towards politics and reinforce the belief among voters that ideology is often sidelined after elections.
He maintained that the Tamil Nadu verdict was emphatic and said respecting both the spirit and substance of the mandate was important for the credibility of democratic politics.
