Tiruchirappalli, Oct. 26 -- Union Finance Minister Nirmala Sitharaman on Monday said the Reserve Bank of India (RBI) was taking measures to prevent sudden fluctuations in the value of the rupee, while clarifying that the central bank does not determine the currency's value.

Speaking to reporters in Tiruchirappalli, Sitharaman said the RBI's efforts were aimed at preventing abrupt movements in the rupee rather than fixing its exchange rate.

Her remarks come amid concerns over currency volatility and its implications for India's economy, particularly import costs and inflation.

On the country's fiscal position, Sitharaman said India's fiscal deficit had been declining year after year, with the government working towards reducing the debt...