India's currency plunges against U.S. dollar

06/10/2013 | Wall Street Journal, The · Economic Times (India), The

India's rupee fell to a record low of 58.15 to the dollar Monday amid speculation over a rising U.S. currency as the Federal Reserve contemplates reducing its bond-buying program. The rupee has been especially sensitive to global developments due to the nation's wide current-account deficit. However, analysts say a sustained decline could benefit Indian exporters, particularly in the information technology sector.

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Wall Street Journal, The · Economic Times (India), The

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