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Rupee falls to new low of 85.27 as importers stock up dollar at month end

Business Standard LogoBusiness Standard16h ago

Rupee falls to new low of 85.27 as importers stock up dollar at month end - Business Standard

Quick Summary:

The local currency had settled at Rs 85.

With the RBI overselling dollars in October, market expectations suggest further accumulation of short positions in November and December.

The dollar index, which measures the strength of the greenback against a basket of six major currencies, rose to 108.15.“There was demand for dollars from importers due to month-end requirements.

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Rupee falls to new low of 85.27 as importers stock up dollar at month end - Business Standard (Picture 1)

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Article Details

Category: BusinessFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-26 @ 18:57:51 (16 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 502 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 24673587

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 221 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 3 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

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Publisher ID: #49

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