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The Economic Times

Business

Rupee slumps 38 paise to close at 95.92 against US dollar

United States Oil US Dollar Anuj Choudhary India Inflation Middle East RBI

The rupee depreciated 38 paise to close at 95.92 (provisional) against the US dollar on Tuesday, weighed down by escalating Middle East conflict and soaring Brent crude oil prices, which hit USD 108 per barrel.

Forex traders said surging dollar demand from oil importers has sparked fresh concerns over inflation and India's external trade balance.

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