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Bloomberg Quint
1w
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Image Credit: Bloomberg Quint
Rupee Closes At Four-Week Low Against US Dollar
- The rupee weakened by 45 paise to close at Rs 86.70 against the greenback.
- This marks the local currency’s lowest closing level since March 17.
- Intraday, it dropped as much as 47 paise to 86.72 a dollar.
- The RBI’s repo rate cut and shift to an accommodative stance signal easier borrowing conditions, potentially weakening the rupee.
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