February 5, 2015 / 5:23 AM / 3 years ago

Junior finance minister says concerned about rupee's appreciation

NEW DELHI (Reuters) - The junior finance minister on Thursday expressed concern about the rupee’s appreciation against all major currencies, except the U.S. dollar.

Cycle rickshaws move past a display of rupees at a roadside currency exchange stall in the old quarters of Delhi June 10, 2013. REUTERS/Anindito Mukherjee/Files

“As of now, we do have to find a zone for the rupee that prevents obviously inflation, etc., in India - which is one of the things that we are concerned about - but at the same time (it) doesn’t push out of the zone of competitiveness,” Jayant Sinha told foreign investors on Bloomberg TV.

Sinha added that the rupee’s 60-65 level against the dollar is a “good zone to be in”.

Reporting by Rajesh Kumar Singh; Editing by Malini Menon

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