Rupee falls to 3-month low at 86.72/$

The rupee weakened for the third straight session on Thursday, closing at 86.72 against the dollar - down 24 paise. The rupee touched an intraday low of 86.89, its weakest level since mid-March, as global risk aversion spiked on fears of a possible US involvement in the Israel-Iran conflict.
This marks a cumulative loss of 69 paise over the last three sessions. Forex traders attributed the decline to a mix of sustained dollar demand from importers, weak domestic equities, and geopolitical concerns in West Asia.
The
dollar index
, which tracks the greenback against six major currencies, edged higher to 98.92, supported by safe-haven flows. However, gains remained limited as the US Fed chose to keep interest rates unchanged, despite Trump's demand for a steep 250-basis-point cut.

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