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Rupee falls 9 paise to hit all-time low of 85.24 against US dollar in early trade
NEW DELHI: The Indian rupee slid to a record low of 85.24 against the US dollar in early trade on Thursday, weighed down by rising US Treasury yields and a decline in most Asian currencies. The rupee, which had closed at 85.20 on Tuesday, opened lower after a mid-week holiday in Indian financial markets.
The 10-year US Treasury yield climbed to its highest level since late May, boosting the dollar index near its year-to- date peak. The offshore Chinese yuan also weakened to 7.3070 per dollar, amplifying the regional currency pressure.
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