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Rupee falls to record low as dollar bids spike
Mint Mumbai
|December 28, 2024
The rupee fell to an all-time low on Friday, as maturing non-deliverable forwards and currency futures boosted dollar demand, while the sharp fall led to panic dollar buying by importers.
The rupee weakened to an all-time low of 85.8075 against the US dollar, before intervention by the Reserve Bank of India helped it trim steep losses, according to traders.
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