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Informist, Saturday, Jun. 20, 2026

 

--Minister Goyal: Rupee has started strengthening after US-Iran peace deal 

--CONTEXT: Commerce Minister Piyush Goyal speaks at media briefing in Mumbai 

--Minister Goyal: Govt keeping a close eye on El Nino impact 

--Minister Goyal: To take necessary steps to help farmers deal with El Nino 

 

NEW DELHI – The government is closely monitoring the El Nino condition in India and will take necessary action to help farmers deal with its impact, Commerce Minister Piyush Goyal said Saturday. "The issue of El Nino effect is there. The government is keeping an eye on that," Goyal said at a media briefing in Mumbai. "The chances for now is of a delayed monsoon. However, estimate is that monsoon will pick up and if it crosses 95% from normal monsoon, then the issue will be fine."

 

The India Meteorological Department has said that rainfall during the southwest monsoon season in India is likely to be below normal due to the development of El Nino. The APEC Climate Center has said that the presence of strong El Nino conditions is likely to lead to a strongly "enhanced" probability of below-normal rainfall over India from July to September, and an "enhanced" probability of below normal precipitation over the country from October to December. 

 

 

Further, Goyal said that the recent depreciation of the rupee was mainly attributed to uncertainty related to the war in West Asia. However, he added that the rupee had started strengthening in the last few days in light of the peace deal between the US and Iran. The Indian currency has appreciated almost 0.8% against the dollar ever since the peace agreement between the US and Iran was announced on Jun. 15. 

 

The minister further said that a competitive advantage over other countries would help India close in on the trade deal with the US easily and quickly. Earlier this month, Goyal had said India and the US would close the first tranche of the proposed trade agreement by the middle of July.  End

 

US$1 = INR 94.32

 

Reported by Pratiksha

Edited by Avishek Dutta

 

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