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Latest News – lRupee May Fall To Record Lows Against US Dollar. Why Is Rupee Falling?

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Rupee May Fall To Record Lows Against US Dollar. Why Is Rupee Falling?

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The rupee is down more than 6 per cent against US dollar since the start of this year.


The rupee on Friday edged higher to 68.15 against the US dollar, extending its recovery after falling to 18-month low 68.42 on Wednesday. Despite the brief recovery, the rupee is not far away from its all-time low of 68.87 vs US dollar, recorded in November 2016. Besides outflows from domestic capital markets, a rising dollar and a surge in global crude prices have weighed on the rupee. The rupee is down over 6 per cent against the US dollar so far this year. Forex advisory firm IFA Global says that the possibility of rupee heading towards 70 per dollar is increasing. There is a still room for further depreciation from current levels, it adds.

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