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Tuesday 4 September 2018

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Rupee may decline further against dollar, says SBI report

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In its research report 'Ecowrap', SBI said given the "inefficacy" of sterilised intervention, RBI may follow a relatively hands off policy in forex market for now. "The rupee has now depreciated by 6.2 per cent since June 2018 when RBI started hiking rates. Even as the decline is in consonance with strengthening of the dollar, we believe it may continue further," the report said.

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