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    <title>We do not target any level of rupee; depreciation due to demand for US dollar: RBI Guv Malhotra</title>
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    <description>The central bank does not target any specific exchange-rate level; recent rupee depreciation reflects increased demand for US dollars and trade-related factors, while foreign exchange buffers remain adequate. The RBI prioritises financial stability and is simplifying regulations where possible without compromising safeguards, and links currency pressure to trade tensions and current-account effects.</description>
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