Chidambaram meets PM to discuss rupee fall, economic situation

Finance Minister P Chidambaram on Monday met Prime Minister Manmohan Singh to discuss the country's economic situation amid a plummeting rupee.

The Indian currency on Monday dropped to 60 against the US dollar. The rupee had earlier in the month touched an all-time high of 61.21 to the Greenback.

Chidambaram is understood to have discussed currency woes and macro-economic situation with the prime minister, amid concerns of WPI inflation snapping a falling trend to rise to 4.86 per cent in June.

The finance minister also briefed Singh about his recent Washington visit, where he pitched for US investments in India. He had also met key policy makers, including Treasury Secretary Jacob Lew, during the trip.

Chidambaram is scheduled to meet Reserve Bank of India (RBI) Governor D Subbarao later in the day.

with inputs from PTI