Rupee sell-off continues, despite repeated RBI efforts

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The Indian rupee has nose-dived to record lows against the US dollar in recent weeks following failed attempts by the Reserve Bank of India (RBI) to reverse the sharp depreciation of the currency, with market participants complaining it is becoming increasingly difficult to trade.

Recent speculation over the effect the US Federal Reserve's tapering of its bond buying programme will have on the market has put the rupee into sharp decline – USD/INR was trading at 61.67 this morning, having been at

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