Rupee falls on report a minister urges devaluation; Finance Ministry denies

MUMBAI/NEW DELHI: The rupee fell on Thursday after a television channel said that the trade ministry would advocate a devaluation within the unit to sell dwindling exports; however, it trimmed losses after a finance ministry denial.

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The rupee INR=D2 weakened zero.28 according to cent to 67.0750 to the dollar earlier than paring losses after the central bank stepped in to save you a pointy fall. At 0540 GMT (01:forty a.M. EDT), it became trading at sixty-six.9550, lower than Wednesday’s near of 66.8875/8975.

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