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Rupee slips 10 paise to 93 against US dollar amid West Asia tensions

The rupee closed slightly lower at 93 against the US dollar on Tuesday, falling 10 paise amid rising crude prices, a firm dollar, and geopolitical uncertainty over the Strait of Hormuz

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RBI monetary policy decision, Strait of Hormuz deadline keep markets watchful. Representational Image

RBI monetary policy decision, Strait of Hormuz deadline keep markets watchful. Representational Image

The rupee depreciated 10 paise to close at 93.00 (provisional) against the US dollar on Tuesday, as investors remained on edge ahead of US President Donald Trump's deadline for the opening of the Strait of Hormuz and the Reserve Bank's monetary policy review.

Forex traders said the USD/INR pair is trading under pressure, dragged down by unabated withdrawal of foreign capital, a firm dollar, and higher crude oil prices amid a volatile geopolitical situation.

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