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Slowdown-hit Indian economy counts costs of stronger rupee

15 0 1

NEW DELHI — India’s stronger currency has become a threat for its growth aspirations, piling pressure on the central bank to aggressively intervene in the foreign exchange market even at the risk of incurring the wrath of the United States.

The rupee has risen more than 6 percent this year against the dollar, snapping six consecutive years of depreciation, with the impact magnified by the decline of many competitors’ currencies against the greenback over the same period.

That is........

© The Japan News