Economics
Rupee Breaches 70 a Dollar as Turkey Rout Complicates RBI's Job
- Asia’s worst performing currency slips to a new record low
- Inflation eases but still above the central bank’s target
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There’s not a moment of respite for India’s inflation-targeting central bank.
Just when gains in consumer prices eased, the Turkish lira-led sell-off in emerging-market currencies has renewed an onslaught on the rupee, pushing it to a record low and possibly demanding more rate action from the Reserve Bank of India.