Rupee ends at new low of 83.27/$ as oil surge- Analysts review forecasts, may remain under pressure ahead of US fed rate move

The Indian rupee closed at a record low of 83.27 against the dollar, causing analysts to review their forecasts. Despite the Reserve Bank of India selling dollars in the forex market, the rupee continues to weaken. Factors such as rising US yields, higher oil prices, and expectations of interest rate hikes in the US are putting pressure on the rupee. The current account deficit and balance of payments have also raised concerns.

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