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>> RESERVE BANK OF INDIA Latest News

JUN 11, 2013 - Business Insider

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Indian Rupee Hits Record Low Against Dollar

The Indian rupee plunged to a record low of 58.98 per dollar on Tuesday. The Reserve Bank of India is reported to have intervened and sold U.S. dollars to stem the rupee's decline. The rupee has fallen about 5.6% against the dollar in the past month. This is part of the overall selloff in everything related to emerging markets. But in a report out last week, Deutsche Bank's Taimur Baig and Kaushik Das wrote that the rupee will rally against the greenback in the second half of the year.  "Four times since 2008 there have been instances of fears about the rupee-dollar exchange ... Read More

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