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Rupee Hits 2019 Low

Sunil Fernandes

The Indian rupee today fell to its lowest level in 2019, as sentiments took a turn for the worse. The rupee fell to 72.30 against the US dollar, as poor GDP numbers, left investors worried that Foreign Portfolio Investors may head for the exit.

Bonds on the other hand rallied, on worries that the low GDP numbers, which came in at 5 per cent may push the RBI to cut interest rates steeply.

GDP numbers which were out on late Friday, came in at the lowest level in 6 years. Stocks too dropped in line with the GDP numbers and the rupee.

The Sensex was last seen trading lower by 600 points, led by losses in heavyweight HDFC.

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