Rupee’s fall is not a reflection of fundamentals of the Indian economy: HDFC chairman Deepak Parekh

The rupee depreciated about 10% this year as the dollar gained strength against all major currencies, triggering the risks of large capital outflows from the emerging economies which can have a destabilising effect on trade and finance. The rupee closed Tuesday at 82.73 against the dollar as compared with the 73.8 level in early January.

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