Rupee Breached 74-mark Against USD But Piyush Goyal Thinks It’s The Best Time For Indian Rupee
“Denial ain’t just a river in Egypt.” - Mark Twain
As the Indian rupee continues to depreciate, hitting all-time lows almost every other day, Minister of Railways Piyush Goyal believes that it is the best time for the Rupee
Speaking at the Hindustan Times Leadership Summit on Friday, Goyal said, “Rupee has only depreciated 7 percent in the last 5 years. This is the best period for the Indian rupee. It’s a golden run.”
On Friday, rupee plunged to a new record low when it breached the 74-mark against USD, and was recorded at a lifetime low of 74.23 against 1 USD.
Further, stock market also slumped to a six-month-low after the Reserve Bank of India (RBI) kept interest rates unchanged.