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Rupee hits new low as dollar demand persists
Feb-06-2025

Indian rupee fell to an all-time low against the dollar on Thursday, amid weak domestic markets and importer demand for dollars. Traders remained cautious ahead of the Reserve Bank of India’s (RBI) monetary policy Committee’s (MPC) decision which is going to be announced on February 7. Some concern also came as exchange data showed foreign institutional investors (FIIs) offloaded equities worth Rs 1,682.83 crore in the capital markets on a net basis on Wednesday. Risk aversion in global markets amid ongoing uncertainty over US trade tariffs further pressurised the rupee. On the global front, the dollar edged up on Thursday, as traders looked ahead to Friday's key U.S. data, while sterling dipped ahead of the Bank of England's policy decision.  

Finally, the rupee ended at 87.59 (Provisional), depreciated by 16 paise from its previous close of 87.43 on Wednesday. The currency touched a high and low of 87.60 and 87.51 respectively.


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