In a letter to the finance minister in September, Jaitley had sought government intervention to check the rise of the rupee as it was hurting Indian exports.
He had cited similar steps initiated by the Japanese government to check the appreciation of the yen against the dollar, commerce ministry officials said.
They added that in the last few months the Japanese central bank had pumped in around $17 billion to help exporters.
The officials said the commerce ministry was of the opinion that the government could afford to devalue the rupee, through market intervention, given India
