06 May 2016, Vicky Bufton, EMIS Content Manager
Rupee stronger at real effective exchange rates
Jaitley stated in reply to a question on reasons for the rupee’s failure to maintain stability against the dollar, that "during 2015-16, the average annual exchange rate of the rupee was 65.5 per US dollar as against an average level of 61.1 in 2014-15. The depreciation in 2015-16 to the tune of 6.6 per cent largely reflects the general appreciation of the dollar globally against most currencies".
During the same period of 2015-16 the Euro depreciated by 12.5 per cent and the pound by 6.7 per cent against the dollar.
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