Weakening Rupee removes pressure from central bank

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Source: Bloomberg
The Rupee dropped to the record low due to widening current account deficit, which now stands at 6.7% of GDP. Depreciating currency removes pressure from the central bank to cut rates further next week. Weakening Rupee might increase inflation risk and foreign debt servicing costs as it slid 1.8% yesterday and another 1% today to 58.6675 per U.S. Dollar.
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Tue, 11 Jun 2013 07:50:04 GMT

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