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The Rupee fell to a record low and dropped as much as 0.7% to 77.4337 a dollar. The previous all-time low was 76.9812 in March. Rupee fell to all-time low as dollar strength dented demand for riskier assets and foreigners continued to dump the nation’s stocks. The surprise rate hike by RBI hasn’t been able to stem the rupee’s decline.
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