US President Donald Trump has kicked up a storm with threats of tariffs on allies and adversary nations alike. He threatened tariffs on India as well

Governor Sanjay Malhotra clarified on Saturday that the value of the Indian rupee in relation to the US dollar is determined by market forces, and the central bank is not concerned with the daily fluctuations in the currency's value.

RBI Governor Malhotra also spoke about the falling levels of rupee. He said that the RBI doesn't target any specific levels or band and it only intervenes to stem excessive volatility.