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Rupee sinks to new low of 72.91
Mumbai: The rupee Wednesday collapsed to a lifetime low of 72.91 against the dollar at the interbank foreign exchange market.
The domestic currency was quoting 22 paise lower at a fresh record low of 72.91 against the US dollar in morning trade amid surging crude oil prices and uanabated foreign fund outflows. Escalating trade war concerns, consistent dollar demand from banks and importers, mainly oil refiners, following higher crude oil prices, kept the rupee under pressure, dealers said. (PTI)