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Friday 7 September 2018

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RBI defended rupee at 72-mark strongly, say forex dealers

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The speed of the rupee's decline from 69 to 72 per dollar in 15 trading sessions since mid-August, with the RBI only mildly intervening, had stumped traders and stoked speculation that policymakers won't stand in the way of further falls. That emboldened rupee bears and sent the currency to a record low of 72.11

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