Former Planning Commission deputy chairman Montek Singh Ahluwalia has cautioned against treating a “strong rupee” as a badge of nationalism, arguing that a currency’s strength should reflect the underlying strength of the economy and not be artificially enforced through excessive intervention. Speaking at The Indian Express Idea Exchange, Ahluwalia said the common assumption that India must always aim for a stronger rupee is economically flawed. His remarks come at a time when the rupee has been under sustained pressure against the US dollar, with global oil risks, foreign portfolio outflows, dollar demand and geopolitical uncertainty keeping currency markets volatile.