Rupee hits six-week low ahead of Fed
The Indian rupee slipped to a six-week low pressured by strong dollar demand and anticipation of a Federal Reserve rate hike. Reserve Bank of India interventions helped the currency limit losses and hold above the key threshold.
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India's rupee held flat at 95.9550 per dollar on Wednesday midday, hovering near a six-week low amid strong corporate dollar demand. The currency touched 95.9750 per dollar earlier, marking its weakest level since July 27.
