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Rupee Trades Lower As Crude Surges Again

Roshni Agarwal

Indian currency in Wednesday's trade again depreciated to 71.97 per US dollar against its earlier higher close.

The weakness comes amid scaling of crude oil prices as Iran launched a missile attack on US led forces in Iraq as reported by Pentagon.

Crude oil on Wednesday with brent crude futures soaring $1.83, or 2.7 percent, to $70.10 by around 0148 GMT, after earlier rising to $71.75, the highest since mid-September 2019. This is due to heightening tensions as well as concerns on disrupted supply.

Meanwhile, Indian indices are also to edge lower as Asian shares slumped on fears of worsening situation between Indian and Iran.

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