Rupee at 95.74: INR hits all-time low as oil prices pressure economy
The rupee slipped to a fresh all-time low against the US dollar on Wednesday, extending its recent losing streak as rising oil prices, overseas debt repayments and importer demand for hedging continued to weigh on the currency.The rupee weakened 0.1% to 95.7450 per dollar, moving past its previous record low of 95.7375 touched on Tuesday.Analysts said the pressure on the…
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