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India’s currency crashes to another record low

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New Delhi( CNN Business) India’s currency resumed its headfirst immerse on Friday, stoking concerns that the world’s fastest-growing major economy could be manager for a slowdown.

The Reserve Bank of India( RBI) chose against hiking rates for the third largest time this year despite expectations that it would act to tamed inflation is a result of rising oil prices and the crashing currency, which induces importations more expensive.

The Indian rupee has fallen around 15% against the surging dollar this year, making it one of the world’s worst performing monies.

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