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2018.08.1502:56:00UTC+00Indian Rupee Slides To Record Low Against U.S. Dollar

The Indian rupee breached the psychological mark of 70 against the U.S. dollar in morning deals on Wednesday, touching an all-time low, as investors continue to fret about Turkey's financial crisis.

Indian Economic Affairs Secretary Subhash Chandra Garg attributed the weakness in rupee to "external factors" and said that there is nothing at this stage to worry as the depreciation is in line with other currencies. Garg said that external factors are likely to ease going forward.

Meanwhile, Indian stock markets remain closed today on account of Independence Day.

The rupee extended its losing streak to hit a record low of 70.56 per dollar, down 0.9 percent from Tuesday's closing value of 69.91.

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