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Rupee slips to all-time low pressured by weak yuan
Mint Mumbai
|December 24, 2024
The Indian rupee weakened to its lifetime low on Monday, pressured by weakness in the offshore Chinese yuan and strong dollar bids from importers, likely related to month-end payments, while state-run banks' dollar sales capped the decline.
The rupee declined to 85.12 against the US dollar, hitting an all-time low for the fifth consecutive trading session and inching past the previous record low of 85.10 hit on Friday. The currency ended the session at 85.1175, down 0.1% on the day.
This story is from the December 24, 2024 edition of Mint Mumbai.
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