Finance minister Nirmala Sitharaman on Monday said global factors such as the Russia-Ukraine war, soaring crude oil prices and tightening international financial conditions are the major reasons for the weakening of the rupee against the dollar. For the first time, the domestic currency dropped below the psychological 80-mark against the dollar in intra-day trade on Monday, before ending the session 16 paise lower at 79.97. The minister said currencies such as the British pound, the Japanese yen and the Euro have weakened more than the Indian rupee against the US dollar. Therefore, the Indian rupee has strengthened against these currencies …
