<span style="color: #222222;">The government today said, global factors including Russia-Ukraine conflict, soaring crude oil prices and tightening of global financial conditions are the major reasons for the weakening of the Indian Rupee against the US Dollar. It added that currencies including British pound, the Japanese yen, and the Euro have weakened more than the Indian rupee against the US dollar. This was stated by Minister of State for Finance Pankaj Chaudhary in a written reply in the Rajya Sabha.<br />''<br />''Talking about the measures to strengthen the Indian rupees, he said, the Reserve Bank of India has raised interest rates in recent months that increase the attractiveness of holding Indian rupees for residents and non-residents. He added that the RBI regularly monitors the foreign exchange market and intervenes in situations of excess volatility. The Minister also said, depreciation of a currency is likely to enhance the export competitiveness which in turn impacts the economy positively. The depreciation also impacts the imports by making them more costly.</span><br />