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Rising export might handle strengthening rupee, say observers

Rupee is 3rd-best performing currency in Asia against dollar behind South Korea's won, Taiwan Dollar

New Delhi 

A strengthening rupee might not hit exports, which grew 17 per cent in February, in the near term, traders and economists believe. The rupee on Thursday was at a 17-month high against the dollar, despite the US Federal Reserve announcement on hiking interest rates. Maintaining a strong position over recent months, the rupee has risen by 3.4 per cent till date this calendar year. On the other hand, rising for a sixth straight month, exports posted the highest rate of rise in a little more than five years. Outbound trade touched $24.5 billion in February; it was $20.8 bn in ...

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