The Indian rupee may have tumbled to the 90-mark against the US dollar, but it's managing to hold its ground more firmly than many of its emerging market counterparts, the government sources said on Friday.

They said that despite facing global challenges, including a stronger US dollar following the US Federal Reserve's decision to cut the Federal Funds Rate, the rupee has outperformed other currencies such as the Euro, Japanese yen, and the Korean won this year. Advertisement

Citing the Reserve Bank of India's latest assessment, officials said the slide in October was due to a stronger dollar after the US Federal Reserve announced its decision to lower the Federal Funds Rate.

According to the RBI's November bulletin, "the depreciation of the rupee in October was due to a stronger doll

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