The rupee dipping below 83 to a US dollar is not abnormal and the fluctuation in currency rate is not exclusive to the Indian currency, a finance ministry official said, hoping that RBI's inflation control steps will factor in exchange rate volatility.
The rupee hit an all-time intra-day low of 83.16 to a US dollar on Thursday and settled at a record closing low of 83.10 on Friday. The fall in the rupee made imports on which India is dependent for meeting its oil, electronics and fertiliser, costlier, fuelling inflationary concerns.
The Finance Ministry official told PTI that the rupee movement as of now was not of any concern as exchange rates are always volatile when US yields change it has an impact on all currencies and the rupee is no exception.
The official said fluctuations in foreign exchange markets "are normal and nothing abnormal or exclusive to the Indian rupee".