NEW DELHI, July 4 — India is trying to “address volatility” in the Indian rupee that has tumbled to record lows against the dollar in recent weeks, a government official said today, amid concerns of a widening trade deficit and sell off of assets by foreign investors.
Meanwhile, India’s trade gap touched a monthly record of US$24.3 billion in May hurt by higher commodity prices. As of 1013 GMT, the partially convertible rupee was trading at 78.95/96 per dollar, close to new record low it touched on Friday.
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