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Forex

Rupee Slumps Amid Ongoing Conflict and Rising Oil Prices

Guavy AI Editorial Team
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USD
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The Indian rupee depreciated by 20 paise to 95.95 against the US dollar in early trade on Monday, as the greenback strengthened further and foreign fund outflows continued amid the ongoing West Asia conflict.

According to forex traders, elevated global crude oil prices put additional pressure on the local unit.

The rupee opened at 95.89 against the American currency and lost more ground to touch 95.95, registering a loss of 20 paise from its previous closing level.

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