Economic Survey 2026: Rupee punching below its weight. Why does it not 'hurt'?

The Economic Survey 2026 said the rupee underperformed in 2025 and is trading below levels suggested by India’s economic fundamentals. It noted that a weaker rupee does not hurt for now, as it helps soften the impact of higher US tariffs on Indian exports and poses no immediate inflation risk from costlier crude imports.