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Indian rupee falls to record low, crosses INR 224 per Omani Rial

MUSCAT : According to media reports, the rupee dropped to a new all-time low of 224.05 per Omani Rial due to strong demand for the U.S. dollar, driven by the maturity of positions in the non-deliverable forwards (NDF) market.

Traders indicated that the rupee’s decline was capped to some extent by likely interventions from the Reserve Bank of India (RBI), which helped limit further losses.
The Gulf Indians

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1 year ago

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