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A robust sentiment in the domestic equity market and softening crude prices in the international market, however, cushioned the downfall in the Indian currency, forex traders said
Weakening Dollar: Outlook Shaping The US Dollar.
Economic advisors to the former president are discussing ways to punish countries that move away from the US dollar, sources told Bloomberg.
China’s yuan has lost more value against the US dollar as interest rate cuts have yet to materialise, leading exporters to find whatever alternative assets they can until exchange differentials subside.
At the interbank foreign exchange, the domestic unit opened weak at 83.30 against the dollar and then further slipped to 83.33, registering a fall of 5 paise over its previous close.