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India’s rupee: Asia’s worst-performing currency

Posted on 18 November 2011

The Indian rupee — already the worst-performing currency against the dollar this year in Asia — is fast-sinking toward its weakest level in more than a decade, weighed down by growing pessimism about the state of the Indian economy.

On Thursday, the rupee was trading at 50.83 rupees to the dollar. Its lowest level in more than a decade was 52.18 rupees, hit in March 2009. At the time, stock markets had collapsed globally and risk appetite was at a nadir……………………………………..Full Article: Source


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