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Owned by Daily Thanthi GroupRupee falls 8 paise to close at 94.20 against US dollar
What's behind this
The Indian rupee slipped 8 paise to close at 94.20 per US dollar, pressured by a stronger greenback and weak domestic equities. Traders attributed the dollar’s strength to stronger‑than‑expected US inflation data, rising Treasury yields and hawkish comments from Federal Reserve officials, which reinforced expectations of further monetary tightening. In the interbank market the rupee opened at 94.07, reached an intra‑day high of 94.05 and a low of 94.28.
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MUMBAI: The rupee depreciated 8 paise to close at 94.20 (provisional) against the US dollar on Friday, pressured by a stronger greenback and weak domestic equities. Forex traders said the US dollar has strengthened, driven by stronger-than-expected US inflation data, rising Treasury yields and…