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Rupee hit a new all-time low of 85.59 against US dollar on Friday
Dec-27-2024
Indian rupee weakened and hit a new all-time low of 85.5950 against the US dollar on Friday due to strengthening American currency and unabated foreign capital outflows. Moreover, dollar purchases by importers for month-end and year-end payment obligations also weighed on rupee sentiments. Foreign Institutional Investors were net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 2,376.67 crore, exchange data showed. Meanwhile, investors are cautiously awaiting signals on the US economy under the incoming Trump administration and the US Federal Reserve's interest rate strategy for 2025. However, easing crude oil prices globally and firm domestic equity markets have capped the fall in rupee.

The partially convertible currency is currently trading at 85.59, weaker by 32 paise from its previous close of 85.27 on Thursday. The currency touched a high and low of 85.5950 and 85.31 respectively.




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