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Friday, Jul 11, 2025
Elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit.
Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said.
The rupee closed at 79.9625 per US dollar, down from 79.8650 in the previous session.
The RBI caught markets off guard with a 40 bps hike at an unscheduled meeting in May, followed by 50 bps increase in June, but prices have shown little sign of cooling so far.
Of late, scams were reported from several CPM-run cooperative banks across Kerala.
Most such societies are in the Thiruvananthapuram district – 37 of them, including Kandala Service Cooperative bank where Rs 100 crore misappropriation was found.
A total of 1,904 shares have advanced, 1,427 shares declined, and 148 shares were unchanged.
The strict order came on June 13 as the banks did not follow the initial directive given to them in April. With this, many entities under the State Government will have to face obstacles in availing of loans.
During the day the local unit witnessed an intra-day high of 79.86 and a low of 79.92 against the American currency.
Global risk aversion has led to rupee depreciation against the dollar.
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