Rupee doesn't need defending, it can take care of itself: CEA Nageswaran

Nageswaran said while international agencies were showing India's trend growth at 6%, the country could easily grow at 7% per annum for the rest of the current decade and beyond

India is not defending the rupee and the Reserve Bank of India (RBI) is only taking necessary steps to ensure that the movement of the rupee is gradual and in line with market trends, Chief Economic Adviser (CEA) V Anantha Nageswaran said on Tuesday.

“I don’t think Indian fundamentals are such that we need to defend the rupee. The rupee can take care of itself,” he said, while speaking at the Mindmine summit.

On Tuesday, the rupee closed at an over one-month high of 79.15 against the dollar, spurred by foreign inflows into local debt and equity markets. On Monday,