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INR slides as NIFTY50 index tests around seven month low
27-Jan-25   11:57 Hrs IST
Indian Rupee slumped on Monday as local stocks fell sharply. Indian equity markets extended losses under 23000, with the Nifty50 index testing seven month low. Local sentiments have been hurt die to worries over corporate profit slowdown, elevated interest rates, uncertainty surrounding U.S. trade policy, and continued foreign outflows. INR had edged up near 86.20 per US dollar in last session but gave up today in early moves and tanked to 86.42, down 20 paise on the day. Meanwhile, the US dollar index also saw a modest upturn today and is currently up 0.30% at 107.57, recovering from a five week low. On the NSE, the benchmark USD/INR futures are up 0.18% at 86.43 right now.

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