Former RBI Governor Raghuram Rajan said this about Indian currency, concern increased in many countries

No interference in the currency market- Former RBI Governor and economist Raghuram Rajan expressed concern over the current state and future prospects of the Indian rupee during the World Economic Forum in Davos. He said that the rupee may weaken further against the dollar and the Reserve Bank of India (RBI) should not intervene in the currency market to control it. According to him, not only the rupee, but the currencies of other countries are also weakening against the dollar.

He also believes that this type of economic instability could be a concern for emerging countries, especially since the US Federal Reserve has raised interest rates, which has not had a positive impact on the US economy. According to Rajan, central banks around the world are worried about the tendency of the US dollar to be used as a 'weapon'.

Rajan said that the value of rupee is still overvalued against other currencies and the value of rupee has reached the level of 85.6 against one dollar. However, he also said that the US dollar is still a strong currency but in the last few years, the dollar has been used as a 'weapon' by the US administration, which has raised concerns in many countries.