Rupee trades flat in range-bound trade, hovers near all-time lows against U.S. dollar
The Hindu
Rupee hovers near all-time low against USD, traders expect RBI intervention to prevent crossing 88.80 level.
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Neither the economists at the Finance Ministry, nor the economists at the Reserve Bank of India seem to be unduly perturbed by a steeply depreciating Rupee, as the domestic rate of inflation is well below the tolerable range of 2 to 6%, GDP is growing at a healthy rate of around 8% in the first two quarters of this financial year and agriculture, manufacturing and services are performing according to expectations.
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