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The Indian currency has been one of the weakest Asian currencies so far this year. Significant levels of capital flight and rising prices of major import commodities such as crude oil and gold are major factors contributing to the weakness. Also, inflation is on an upward trajectory and so is the yield of Indian government bonds, adding to the woes. The rupee has lost 2.6 per cent year-to-date compared to a loss of 1.8 per cent in the corresponding period of 2021.
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