.............While the rupee has declined sharply against the dollar, it has also depreciated significantly against the euro and the Singapore dollar, while declining somewhat against the Japanese yen too. This suggests a combination of the general weakness of the rupee, as well as the strength of the dollar. Other emerging market economies (EMEs) dependent on foreign capital flows have also experienced currency declines against the dollar, with the rupee, along with the South African rand and the Brazilian real, having been hit particularly hard..........
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