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Real rate of rupee is 44.50 per dollar
The real effective exchange of the rupee (REER) which crashed to 42.44 against the dollar could be as low as 44.50. According to an internal assessment, RBI sources say, the REER could be even lower at around 45 per dollar. The REER is worked out by factoring in the rupee’s level vis-a-vis other currencies which have also depreciated against the dollar. The current slide is being attributed to the strengthening of the dollar in the international money market. The source said there was no way to prevent a further slide in the value of the rupee.