NEW DELHI (Reuters) - The decline by the Indian rupee against the U.S. dollar is not exceptional and the currency is performing relatively well, Economic Affairs Secretary Shaktikanta Das said on Thursday.
Das said while the rupee INR=D2 had declined by 6.5 percent against the U.S. dollar since last April, it has actually risen against the euro and the yen while holding its own against the sterling.
Das, briefing reporters ahead of the Feb. 29 union budget, downplayed weakness in Indian stocks, which have wiped out gains since Prime Minister Narendra Modi won power in May 2014.
He said Indian markets were performing relatively well and that their decline was driven by global trends.
Reporting by Rajesh Kumar Singh and Manoj Kumar; Writing by Douglas Busvine; Editing by Malini Menon
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