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Rupee hits all-time low, settles at 95.86 against US dollar
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Rupee hits all-time low, settles at 95.86 against US dollar

The Indian Express·Express Web Desk·17 days ago
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In the last six trading sessions, it has weakened nearly 2 per cent as fears around the Iran war pushed crude oil prices higher.(File Photo) The Indian rupee closed at a record low of 95.86 against the US dollar Friday after slipping past the 96/dollar mark as higher crude oil prices and inflation concerns weighed on the currency. At the interbank foreign exchange market, the rupee opened at 95.86 and fell to an all-time low of 96.14, down 50 paise from the previous close. The USD/INR pair later settled at 95.86 (provisional), down 22 paise from Thursday’s close, with traders pointing to likely intervention by the Reserve Bank of India. The rupee has registered over 6 per cent losses this year. In the last six trading sessions, it has weakened nearly 2 per cent as fears around the Iran war pushed crude oil prices higher. Forex traders said global uncertainties, high valuations and the absence of AI-led investment opportunities affected capital flows.…

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