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Rupee continues to decline for third consecutive session, hits low of 85.26
The Morning Standard
|December 27, 2024
THE rupee continued to bleed for the third consecutive day on Thursday, pressured by a firm dollar and importers' month-end dollar demand.
THE rupee continued to bleed for the third consecutive day on Thursday, pressured by a firm dollar and importers' month-end dollar demand. At the end of the market hours, the currency lost 6 paise against the dollar at 85.2625 from 85.20 in the previous session and had an all-time low of 85.2825 intra-day.
A trader said importers were very active in the market, though trading volume was relatively low as the year-end is nearing. It can be noted that the rupee's drop to 85 from 84 happened over two months, while the decline to 84 from 83 took nearly 14 months.
This story is from the December 27, 2024 edition of The Morning Standard.
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