India, July 1 -- The Indian rupee depreciated by 67 paise to settle at 95.23 against the US dollar on Wednesday, weighed down by a stronger dollar and weakness across emerging market currencies.
According to forex traders, the sharp decline was driven by the strengthening of the US dollar in overseas markets, persistent foreign capital outflows, and broader weakness in Asian currencies.
Market sentiment also turned cautious after the USD/INR pair breached the key 95.00 psychological level.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....