Chief economic adviser likely to brief press on rupee fall

Chief economic adviser said he is likely to brief the media on the rupee's fall today, after the Indian currency slumped to a record-low level.

Chief economic adviser said he is likely to brief the media on the rupee's fall on Thursday, after the Indian currency slumped to a record-low level.

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Earlier, the rupee fell to a record low of 59.9350 to the dollar, a day after the US Federal Reserve indicated a tapering of its monetary stimulus, and data showed China's factory activity weakened to a nine-month low in June.

After Raghuram Rajan's comments, the rupee trimmed losses to 59.66 to the dollar.