Rupee slips 13 paise to 85.56 amid rising crude prices and strong dollar

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The Indian rupee opened lower against the US dollar on Monday, sliding 13 paise to 85.56. Rising crude oil prices and escalating geopolitical tensions weighed on the domestic currency. Expectations of a US Federal Reserve interest rate hike further bolstered the dollar, adding pressure on the rupee. The Reserve Bank of India has stepped in with measures aimed at stabilizing the currency. Meanwhile, domestic equity markets also faced headwinds as foreign investors continued to sell off shares.

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