September 23, 2011 6:15 PM

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Rupee depreciation on expected line: Rangarajan

Prime Minister's Economic AdvisoryCouncil Chairman C Rangarajan on Friday said that decline in rupee is on expected line amid fall in currencies of several other emerging economies.Rangarajan told reporters in Chennai that rupee had stayed very strong for quite a number of years and therefore some decline in its value was expected.The rupee this year has declined nearly 10 per cent against the dollar. In Friday's trade, the Indian currencytumbled by 34 paise to nearly 28-month low levels of Rs 49.82 against the US dollar.

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