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The Reserve Bank of India has held off on hiking interest rates, shocking analysts and sending the rupee to a fresh record low. The currency’s weakness has been a source of misery for millions, especially for a key segment of Prime Minister Narendra Modi’s base. Paolo Montecillo reports.
Prime Minister Modi was also busy this week hosting Russian President Vladimir Putin for their countries’ annual bilateral summit. India has been trying to strengthen energy and security ties with Moscow, while also balancing its alliance with the US. Neha Poonia has more from New Delhi.
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