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Rupee tumbles 55 paise to 86.07 against US dollar on oil spike, Israel-Iran conflict jolts markets; foreign fund outflows deepen

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The Indian rupee plummeted to 86.07 against the US dollar, marking its steepest fall in over three months due to surging global crude oil prices and heightened geopolitical tensions. Israel's military actions impacting Iranian nuclear facilities triggered a sharp rise in oil benchmarks, exacerbating concerns about India's trade deficit and inflation.
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