Rupee strengthens after comments by finance ministry official


By Swati BhatMUMBAI (Reuters) - The rupee staged a sharp recovery on Wednesday, following talk of possible fiscal and monetary steps to stabilise the currency and comments from a government official that the slide was overdone.

Despite strong GDP growth, the rupee has weakened more than 11 percent to become Asia's worst performing currency this year, hit by higher oil prices and an emerging markets sell-off, widening India's current account deficit and tipping its balance of payments into the red.There was no fundamental rationale for the rupee.....

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