Rupee slumps 25 paise to close at 74.15 against U.S. dollar
The Hindu
Local unit fell after U.S. Fed policymakers signalled they will start to raise interest rates in March to combat inflation
The rupee on Friday slumped 25 paise to close at 74.15 (provisional) against the U.S. dollar, as muted domestic equities and elevated crude oil prices weighed on investor sentiments.
Forex traders said the local unit fell following more hawkish comments by Federal Reserve officials.
At the interbank foreign exchange market, the local currency witnessed an intra-day high of 74.05 and a low of 74.21 against the U.S. dollar.
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