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Rupee hit by devaluation talk despite ministry denial

Friday, September 16, 2016 - 05:50

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Ms Sitharaman tweeted she had not told a reporter the government was discussing a devaluation. But she stopped short of denying the ministry was weighing such a proposal.

Mumbai

INDIA'S finance ministry swatted down a media report on Thursday of a possible devaluation of the rupee, dismissing lobbying by struggling exporters seeking a competitive boost from a cheaper currency.

The rupee weakened 0.28 per cent to 67.0750 to the dollar after a

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