India's Rupee Expected to Weaken Toward 100 per Dollar Despite RBI Efforts
India's rupee is forecasted to weaken toward the 100-per-dollar level despite the Reserve Bank of India's efforts to support the currency. The RBI has widened its defence to rates cautiously, while the rupee recently rose 20 paise to 94.79 against the U.S. dollar in early trade. The RBI also clarified the scope and calculation of the Foreign Exchange Risk Reserve amid market disruptions.
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