KOLKATA: The Finance Minister Pranab Mukherjee said on Sunday that the sharp fall in the rupee was a matter of great concern and the Centre was trying to resolve the situation.
"It's a matter of great concern. We are monitoring the situation. The Center is not (seated) at rest. We are trying to solve (the problem)," Mukherjee told media here.
This is due to the crisis in the eurozone," he said. Mukherjee said: "There are also currency crisis in emerging markets like Brazil.In the currency market, the national currency has been falling against the U.S. dollar over the past days.
On Friday, in early trade, the rupee has attempted to overcome the 55 levels, which fell to 54.91 against the U.S. currency - the fresh all-time low in the third straight session, as the heavy outflows continued amid concerns the euro area.
Traders said strong dollar demand from importers, mainly oil refineries, in the expectation of a further strengthening of the dollar, caused the fall of the rupee.However, the Reserve Bank had intervened and came up slide of the rupee.
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