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Rupee Slips To 81.89 Against US Dollar

The fall was aided by renewed worries over containing inflation after the OPEC+ grouping announced its largest production cut since the pandemic

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The Indian rupee fell to near around its record low on Tuesday as it slipped 0.39 paise to end at 81.89 against the US Dollar. The fall was aided by renewed worries over containing inflation after the OPEC+ grouping announced its most significant production cut since the pandemic.

Bloomberg data showed that the currency opened at 81.53 and traded between 81.49 and 81.90 during the day.

The dollar fell against a basket of major currencies on Thursday after rising 0.7 per cent the previous day, its biggest single-day jump in a week.

The oil production cut by OPEC+ sent Brent Crude prices to their three-week high of USD 93 per barrel.

The market is concerned about the impact of production cut on India’s current account deficit, as India imports over 80 per cent of its oil.



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OPEC+ producers Supply Cut indian rupee us dollar