New Delhi, September 7
The rupee depreciated for the fourth straight day and settled 10 paise lower at its lifetime low of 83.23 against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.
Positive trend in the domestic equity markets, however, provided a cushion to the rupee, according to forex traders. Crude oil breached the $90 per barrel-mark after oil producing countries agreed to extend supply cut till December this year while dollar stayed firm on safe-haven demand.
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