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Indian Rupee Hits Record Low of 89.85 Against U.S. Dollar
The Rupee falls to a historic low of 89.
The Indian Rupee dropped 32 paise in early trade, hitting an all-time low of 89.85 against the U.S. Dollar. The sharp decline is attributed to a strengthening dollar, rising global inflationary pressures, and concerns over India's current account deficit. Analysts suggest the rupee may remain under pressure if the global economic outlook worsens.