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In the morning trade on Thursday, August 30, the Indian Rupee fell a whopping 23 paise against the US dollar and hit a new low of 70.82. It had opened at 70.63 per dollar and this is being associated with the dollar demand from importers at the end of the month.
Executive VP-Markets & Corporate Affairs, India Infoline told Times of India that,”Globally, the Turkish lira and Chinese off shore Yuan is putting currencies under pressure. The other negative is a rally in crude oil which indirectly hurts sentiment and fiscal stability.
