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Rising Brent Crude Oil Prices Weigh on Indian Rupee
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The Indian rupee has fallen to 96.73 against the dollar, close to its lowest level in two months. The RBI has intervened by selling dollars and pulling the currency back to 96.50.
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Rising Brent Crude Oil Prices Weigh on Indian Rupee
The Indian rupee has fallen to 96.73 against the dollar, close to its lowest level in two months. The RBI has intervened by selling dollars and pulling the currency back to 96.50. The ongoing rupee depreciation is despite the dollar index trading flat at 101.12. The RBI has provided limited support throughout the week, but finally intervened on Friday. The rupee's depreciation is a concern for the Indian economy, which is heavily dependent on imports.
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