The Indian rupee reached a seventh consecutive session of record lows on Tuesday as local share and currency woes weighed, but the central bank’s dollar selling intervention helped prevent additional losses.

The US dollar remained barely above a one-week low against key rivals as markets downgraded the likelihood of a percentage-point Federal Reserve rate rise this month. 

The partly convertible rupee was trading at 79.93/94 per dollar, down from an all-time low of 80.05. On Monday, the unit finished at 79.97.

Source: Reuters

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