"This is an irrational sentiment. It will correct itself. It is important to stay on the course. There is no need to panic," Economic Affairs Secretary Arvind Mayaram said.
He was responding to a query on the value of the rupee, hich fell to a new low of 68.75 against the dollar in intra-day trade today. The rupee has declined over 20 per cent since April on concerns about the country's widening current account deficit, slowing economic growth and capital outflows.
The rupee dropped today as oil prices rose in Asian trade on concerns over possible US military
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