Indian Rupee declines to its lowest on strong US dollar, investment outflow

Mumbai: Indian Rupee fell to its lowest against US dollar on Thursday as a result of strong US dollar and outflow of investment from India to other countries as dollar strengthened its position further in the market. Indian rupee fell by 30 paisa to touch its lowest level 68.86 crossing its previous level of 68.80 against dollar recorded in August, 2013. Meanwhile, Reserve Bank of India (RBI) forced to interfere in the market to stabilize the Indian currency. Rupee found stable at Rs 68.83 per dollar as RBI released US currency into the market, the sources said. 

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