Rupee Hits New All-Time Low As Dollar Climbs To 20-Year Peak
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The rupee weakened to a new record low beyond 80 per dollar early on Thursday as the greenback climbed to a fresh two-decade high.
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Federal Reserve hiked interest rates and projected a more aggressive policy path in the current tightening cycle.
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Reserve hiked interest charges and projected a more competitive policy course in the current tightening cycle.
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Bloomberg quoted the rupee at 80.4863 against the greenback after hitting 80.4875,
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a record low compared to its previous close of just below the psychologically key 80-per-dollar mark.
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PTI reported that the domestic currency fell 42 paise to a fresh all-time low of 80.38 against the US dollar in early trade.
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The dollar towered to a 20-year top on secure-haven flows as the prospect folks hobby rates growing further and faster than expected spooked investors.
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The dollar index - a gauge of the greenback's performance against six of its major peers - increased 0.2 per cent to a record 20-year high of 111.72,
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