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Rupee down low on Dollar

The Indian rupee has hit a record low against the dollar despite recent efforts to prop-up the currency. According to official data, international investors have withdrawn $11.58bn in shares and debt from India's markets since the beginning of June. Inflation fears India's economy had been growing at a fast clip, reaching annual growth of 9%. There are fears that the RBI (Reserve Bank of India) measures may not help improve the rupee," said Param Sarma, chief executive with NSP Forex. Indian authorities are concerned that the weak rupee is stoking inflation. More News Finance

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