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08-Jul-2013
Indian Rupee At Lifetime Low

The rupee fell to a record low on Monday.  The rupee closed at 60.62 after hitting low of 61.21 making a new low.

The US job data on Friday, showed that US economy is improving, making the belief stronger that Federal Reserve will wind down its quantitative easing.

Weakening rupee and rising oil a fatal combination for India.  The Indian rupee weekened 9.3% this year, more than any other Asian currency.

 
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