Mumbai, May 23 -- The Indian rupee depreciated in April, though the decline was limited by the temporary ceasefire announcement and various measures undertaken by RBI. Thereafter, the INR broadly mirrored the movement in crude oil prices, reflecting the developments in West Asia. In real effective terms, the Indian rupee depreciated in April due to depreciation of INR in nominal effective terms and relatively lower price index in India against its major trading partners.

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