New Delhi, July 22 -- The exchange rate of the rupee is market-determined with no target or specific band, the government told Parliament on Tuesday, expressing confidence in strong macroeconomic fundamentals of the Indian economy even as the Indian currency weakened to over 96 per US dollar. In general, the factors that influence the exchange rate of the rupee include a host of domestic and global factors such as the movement in dollar index, trend in capital flows, level of interest rates, movement in crude prices, and current account deficit, minister of state for finance Pankaj Chaudhary told the Upper House, in a written response. He said that in calendar year 2014, the rupee traded in the range of 58.34-63.89 per US dollar and was at 63.33 to the dollar towards end of the year. In July , the rupee traded in the range of 94.97-96.26 per dollar and closed at 96.26 per dollar on July 15, he added. The rupee ended at 96.25 to the dollar on Tuesday. The minister, however, said the Reserve Bank of India (RBI) regularly monitors the foreign exchange market and intervenes in situations of excess volatility. "Various measures taken by RBI to boost forex inflows, which in turn may ease the depreciation pressure on the Rupee," he said. Replying to a specific question from Ramji Lal Suman - whether the government is aware that falling value of Indian rupee against US dollar reflects serious concerns about the health of the Indian economy as on date - Chaudhary said: "At present, the macroeconomic fundamentals of the Indian economy remain strong."...