New Delhi, Nov 20 (PTI) Reserve Bank Governor Sanjay Malhotra on Thursday said the central bank does not target any level for the rupee, and the recent depreciation of the domestic currency against the US dollar is primarily due to trade uncertainties following the imposition of tariffs by the Trump administration.

The governor also exuded confidence that India will secure a favourable trade deal with the US, which will help ease the pressure on the current account.

“We do not target any level. Why is the rupee depreciating? (It) is because of the demand. It is for the markets to decide…It is a financial instrument, and there is a demand for dollars, and if the demand for dollars goes up, the rupee depreciates; and if the demand for the rupee goes up, the dollar comes down, then it appre

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