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Currency weakens as dollar demand reverses recent rupee strength
The rupee retreated after recent gains as corporate dollar demand and NDF-related flows eroded earlier strength, keeping currency markets cautious amid global volatility.
The Indian rupee ended lower, snapping its recent winning streak as demand for dollars from corporates and activity in the non-deliverable forwards market weighed on the currency. Market participants tracked overseas dollar movements and local demand-supply dynamics during the session. The pullback followed a period of appreciation, with traders remaining cautious amid global currency volatility and shifting capital flow signals.