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Rupee devalues to record low near 70.20

Mumbai: Wider trade deficit, along with recent outflow of foreign funds, weakened the Indian rupee to a fresh record low during the early morning trade session on Thursday. At 9.45 a.m., the rupee traded at 70.18-19 after it had plunged to 70.32-33 — the lowest ever — against the greenback. On Tuesday morning, the Indian […]

Rupee devalues to record low near 70.20

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Mumbai: Wider trade deficit, along with recent outflow of foreign funds, weakened the Indian rupee to a fresh record low during the early morning trade session on Thursday.

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At 9.45 a.m., the rupee traded at 70.18-19 after it had plunged to 70.32-33 -- the lowest ever -- against the greenback.

On Tuesday morning, the Indian currency had plunged to 70.08 -- its previous lowest ever mark -- against the greenback.

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At the end of the intra-bank trade session on Tuesday, the Indian rupee strengthened by four paise at 69.90 against the dollar, compared to Monday's close of 69.94 per greenback.

trade-deficit Mumbai trade-session weakened foreign-funds outflow indian-rupee fresh-record-low
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