New Delhi

Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal on Thursday said he is not concerned about the rupee, arguing that exchange rate weaknesses are common during periods of high economic growth.

Speaking at the Times Network’s India Economic Conclave 2025, Sanyal noted that since the 1990s, the rupee has generally been allowed to find its own level, with the Reserve Bank of India intervening only to curb excessive volatility.

“The rupee’s current weakness should not necessarily be conflated with economic worry. Economies in high-growth phases, such as Japan and China, have often experienced similar exchange rate weakness,” he said.

The rupee recently breached the 91-a-dollar mark for the first time. Sanyal said the key is that depreciation does not trigger domestic inflation, which it currently hasn’t.

On India-US trade talks, Sanyal said negotiations with the US and EU are being pursued aggressively. He stressed that India has avoided escalating tensions while protecting national interests. “China and India are among the few countries that have not bent to US pressure,” he added.

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India and the US are nearing a framework for a bilateral trade deal addressing high tariffs, alongside discussions on a comprehensive agreement. Outcomes from these talks could also influence the rupee, which has seen significant depreciation since April 2025, following US tariff hikes.