The rupee’s depreciation has accelerated, with the last 30-point slide taking just 12 years versus two decades earlier, even as the trade deficit narrows.
The rupee continues to test lows against the US dollar amid extended foreign outflows and delays in a US trade deal with the fourth-largest economy. The local currency on Tuesday surpassed the psychological 91 per dollar mark for the first time and has depreciated 3.5% in just two months.
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