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Currency watch: Rupee slips 17 paise to 87.75 against US dollar; importer demand and higher crude prices weigh on sentiment

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The rupee weakened to 87.75 against the US dollar due to importer demand, rising crude oil prices, and foreign fund outflows. Despite a strong opening, the rupee faced pressure from escalating trade tensions, particularly new US tariffs on Indian imports. Foreign reserves also saw a sharp decline, while domestic equities experienced gains.
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