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No rebound for India's reeling rupee seen likely in coming year

Updated : October 10, 2018 09:57 AM IST

The rupee has hit repeated record lows against the dollar this year in its worst run since the financial crisis. It is down over 16 percent so far this year, tracking a deep selloff in emerging markets driven by a resurgent dollar and the ongoing US-China trade war.
Inflation in India was forecast to be a touch above the central bank's comfort level of around 4 percent in the third quarter and the current one.
But India's widening current account deficit, thanks to rising oil prices and a weak rupee, combined with below-normal rainfall this year could translate into rising price pressures over the near term.
No rebound for India's reeling rupee seen likely in coming year

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