New Delhi, Oct 8 (PTI) As exporters started complaining about adverse effects of rising value of the rupee against the dollar, the government today said appreciating Indian currency reflects strength of the economy and it cannot do much so long as the unit rises and falls in a range.

"As long as the movement is not volatile and takes place based on fundamentals within a sort of range and moves two ways, there is not much that one can do about it," Finance Secretary Ashok Chawla told reporters when asked if the RBI or the government will intervene to rein in firming rupee.

Chawla said rising value of the rupee reflects strong fundamentals of the Indian economy and capital flows into the country. "It (rupee value) has been appreciating. It shows the fundamental strength of the economy. The fact that capital flows, which had dried up earlier, are coming. Currency appreciation signals economic strength; government says limited intervention while movements remain non-volatile and fundamentals-driven. The statement treats rupee appreciation as evidence of economic strength from fundamentals and capital inflows, and explains that while the RBI or government can intervene, such foreign exchange intervention is constrained when movements are non-volatile, two-way, and driven by fundamentals.