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Currency Buzz: INR Falls Below Rs 74/Dollar Mark Amid Weak Global Cues
28-Sep-21   17:16 Hrs IST

The Indian rupee fell sharply on Tuesday, depreciating under the Rs74 per dollar mark, its lowest level in a month amid weak global sentiments. Global shares were under pressure amid a stronger dollar and rising U.S. Treasury yields. Investors also fretted over China Evergrande Group's debt crisis and a widening power shortage in China. Domestic equity indices also ended with steep losses on Tuesday, snapping their three-day rising streak. The barometer index, the S&P BSE Sensex, declined 410.28 points or 0.68% to close at 59,667.60. The Nifty 50 index fell 106.50 points or 0.60% to close at 17748.60. Rupee tumbled 23 paise to close at 74.06 against the dollar . At the interbank foreign exchange market, the local currency opened at 73.79 and witnessed an intra-day high of 73.73 and a low of 74.12 against the U.S. dollar in day trade. The local unit finally settled at 74.06 a dollar, down 23 paise over its previous close. On Monday, the rupee had settled at 73.83 against the U.S. dollar.

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