Fiscal deficit, weak capital gains responsible for rupee’s fall: Saumitra Chaudhuri

Despite the Reserve Bank of India’s (RBI) efforts to prevent the rupee’s fall with frequent interventions the rupee ended lower at 53.63/64 to the dollar on Friday; it had closed at 53.44/45 on Thursday. The currency fell 0.3 per cent for the week. In an interview to NDTV Profit, Saumitra Chaudhuri, Member of Planning Commission, said that the rupee’s fall is a combination of various factors like fiscal deficit and weak capital flows. “The RBI is trying to stabilise the rupee,” he added.