[BulletProofYogi]

Take a note:

https://pib.gov.in/newsite/PrintRele...x?relid=124611

During 2015-16, exchange rate of Indian rupee against US dollar has remained in the range of Rs. 62.7 – 63.9 per US dollar. The variation in the value of rupee against US dollar in the recent months has been due to supply-demand imbalance in the foreign exchange market and the general appreciation of US dollar globally.



The impact of exchange rate depreciation on different sectors of Indian economy depends on a number of factors like elasticity of exports and imports, relative prices of domestic and global products etc. the softening of international commodity prices, particularly crude oil prices, notwithstanding the modest depreciation, will have favourable impact on trade and current account balances as well as macroeconomic stability. This may also reduce the Government subsidy outgo on, among others, kerosene and cooking gas.



To limit the import of gold and to bring the stocks of gold in the mainstream economy, Government has announced the monetization of gold scheme in the Budget 2015-16, which will replace both the present Gold Deposit and Gold Metal Loan Schemes. The Government and the RBI are closely monitoring the emerging external position including exchange rate of the rupee and on an on-going basis calibrating policies or regulations to support robust macroeconomic outcome.



This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Rajya Sabha today.