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Rupee Weakens Near 96 as Oil Prices Surge Above $100
The rupee weakens against the US dollar amid rising oil prices. With crude oil exceeding $100 per barrel and ongoing foreign selling, the Reserve Bank of India is intervening to stabilize the currency. Analysts predict a potential interest rate hike in the upcoming monetary policy meeting as forex reserves decline and the dollar index remains strong.
⚖️ AI Verdict
"The rupee's struggle is a classic case of currency blues!"
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File ID: #416682Original Source: Times Of India ↗
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