At a recent trading session on the Interbank Foreign Exchange market, the Indian rupee depreciated to a one-year low of 56.58 against the dollar.
The decline in rupee against the dollar is attributed to the demand for the greenback from importers. Also, the concerns highlighted by Reserve Bank of India (RBI) Governor D Subbarao at a recent speech on the Indian macroeconomy led to depreciation of rupee.
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