New Delhi, May 21 -- Union commerce minister Piyush Goyal on Thursday said the government is closely monitoring the rupee and weighing multiple measures to navigate the ongoing global volatility.

"We are monitoring the situation. All the various arms of government are working as a team. Several steps are under consideration. The situation is globally quite challenging, but we have the confidence and the courage of conviction that we'll come out winners even in this challenging time," Goyal said.

The rupee has weakened nearly 7% against the US dollar since the start of 2026, largely due to elevated crude oil prices following the US-Iran war. The domestic currency opened at 96.30 per dollar on Thursday, recovering from the previous sessio...