Commerce and Industry Minister Kamal Nath Tuesday said the Indian rupee’s fall against the dollar appears to be a ‘temporary aberration’, but that the lower value will help boost export growth.
“The rupee has obviously gone very low. It appears to be an aberration,” Kamal Nath said.
“However, this also means higher exports,” he added.
The rupee – hit by concerns about capital outflows following the upheaval on Wall Street and heavy dollar demand from oil firms and foreign banks – Tuesday fell 48 paise against the dollar to breach the 46-mark, its weakest level since August 2006.
