Govt to combat rising rupee, interest rate

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New Delhi, Dec 18 (UNI) The government today said it is working on several measures to counter the rising rupee and the hike in interest rate, while keeping inflation under check.

Commerce and Industry Minister Kamal Nath met Prime Minister Manmohan Singh at the Trade and Economic Relations Council meeting this morning and discussed the matter.

''Everyone is feeling the pinch of the rising inflation and both the issues were discussed,'' Mr Nath told reporters on the sidelines of Sports Goods Export Promotion Council Awards ceremony here.

We have confidence in the economy and the momentum of growth will continue despite the rupee appreciation, he added.

''It is not only the exports segment but the industry who are being affected by the The Minister also remained confident of achieving the annual export target of 160 billion dollars for the current fiscal.

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