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Rupee Slides Past 89 As Dollar Demand Surges
Rupee falls past ₹ 89 as dollar demand intensifies amid weak intervene-ment and rising risks.
The Indian rupee weakened sharply, breaching ₹ 89 per U.S. dollar for the first time, and closed at around ₹ 89.49. Market participants say the slide is being driven by strong dollar demand, a lack of central bank support, and global risk-off sentiment.
Analysts warn that sustained depreciation could increase import costs, fuel inflation, and pressure India’s current account if the currency does not stabilise.