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Rupee posts weekly fall despite rate hike amid adverse flows, weak sentiment ↗

In recent trading, the Indian rupee closed at 96.73 against the dollar, showing minimal fluctuation from its prior standing. The rupee's slide was mitigated by dollar sales from state-run banks, although it lingers close to record lows. Analysts foresee a further downturn due to challenging market conditions, with the currency's stability affected by a decline in India's foreign exchange reserves over the past four weeks.

From The Economic Times Markets

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