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Rising demand for gold adds to rupee's woes
Financial Express Mumbai
|September 27, 2025
EXPERTS SEE CURRENCY BREACHING 90 MARK SOON
HIGH DEMAND FOR gold ahead of the festive and wedding season has added to weakness of the rupee, which is trading close to its all-time low."Apart from the usual dollar demand from oil importers, historic high of gold is adding to the rupee woes.
There has been increased demand for gold in the last 3-4 days.Around $100 million worth of gold has been imported every day in the last few days in our bank on account of the festive season and upcoming wedding season," said a chief dealer at a bank. This has also played a role in pushing the rupee to a record low, he added.
The rupee hit another fresh intraday low of 89.80 on September 23. On Friday, the rupee closed at 88.72 against the dollar.
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