By IANS
New Delhi : Commerce and Industry Minister Kamal Nath has written a letter to Prime Minister Manmohan Singh urging him to intervene and check the rapid appreciation of the rupee, which is impacting Indian exporters.
"Kamal Nath has written to Prime Minister Manmohan Singh expressing concern over the rising rupee and requesting his intervention," Commerce Secretary G.K. Pillai told exporters at an open house session organised by the Federation of Indian Export Organisations (FIEO) Tuesday.
Pillai said that measures to check the rise of the rupee needed to be adopted at higher echelons of the government, adding: "The government is concerned about this, and we will take action."
FIEO president G.K. Gupta said: "The continuous appreciation of rupee is exerting pressure on profit margins of exporters."