The Indian rupee continued to hover near record low levels against the dollar on Friday tracking a strong greenback overseas coupled with sustained foreign fund outflows. Besides, dwindling foreign exchange reserves and fast-widening trade and current account deficits also weighed on the currency. Indias merchandise trade deficit rose to a record $26.1 billion in June 2022. Data released on July 14 showed that while exports in June rose by 23.5% to $40.13 billion, imports shot up by 57.5% to $66.31 billion. INR ended at Rs 79.88 against the dollar as compared to previous close at 79.99. Powered by Commodity Insights
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