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Rupee pressured by high fiscal gap: RBI

Rupee pressured by high fiscal gap: RBI
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First Published: Tue, Dec 20 2011. 12 35 PM IST

A file photo of RBI deputy governor K.C. Chakrabarty.
A file photo of RBI deputy governor K.C. Chakrabarty.
Updated: Tue, Dec 20 2011. 12 35 PM IST
A file photo of RBI deputy governor K.C. Chakrabarty.
Mumbai: The rupee is being pressured by the country’s large deficit and other macroeconomic fundamentals, said K.C. Chakrabarty, a deputy governor of the Reserve Bank of India (RBI), on Tuesday.
“The country which has high fiscal deficit, inflation is high, and which has high trade deficit and current account deficit, I don’t see why its currency will not depreciate,” said Chakrabarty on the sidelines of an industry event.
The rupee had touched an all time low of 54.30 to the dollar last Thursday.
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First Published: Tue, Dec 20 2011. 12 35 PM IST