Currency Buzz: INR melts as 94 per US dollar mark gives up

Indian Rupee slipped sharply today, adding to recent losses as soaring crude oil weighed on the local currency. INR is down 41 paise at 94.56 per US dollar as the Brent crude oil jumped around 3% with no sign of a breakthrough between the United States and Iran adding to supply worries. Local stock market also slipped after rising in last session and the NIFTY50 index lost around 0.40% on the day. US Dollar index is holding at 98.59, up 0.27% on the day, rebounding sharply after a downbeat movement in last session.

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