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GK and monthly revision
Rupee hits near three-week low at 95.24 vs USD as Asian currencies drop on Fed, Iran war caution
On Wednesday, the Indian rupee fell to a near three-week low of 95.24 against the USD, reflecting a broader decline in Asian currencies. This depreciation is attributed to investor caution ahead of comments from the U.S. Federal Reserve Chair and uncertainties regarding U.S.-Iran negotiations. Despite lower oil prices and initiatives to enhance dollar inflows, analysts predict limited recovery for the rupee due to ongoing central bank liabilities and weak foreign portfolio investments.
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