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Rupee Slumps 81p in Steepest Single-Day Fall in Over 2.5 Years

Financial Express Lucknow

|

May 09, 2025

The rupee saw its steepest single-day fall in more than two-and-a-half years and settled 81 paise lower at 85.58 against the US dollar on Thursday, weighed down by heightened geopolitical tensions between India and Pakistan.

- PRESS TRUST OF INDIA Mumbai, May 8

Forex traders said investors resorted to risk aversion in the domestic markets after the Pakistani military attempted a number of military targets in northern and western India using drones and missiles that were neutralised by Indian defence system.

Besides, heightened geopolitical risks, positive US dollar index and a rise in crude oil prices also weighed on the rupee.

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