Rupee Hits Six-Week High; Sensex and Nifty Fall Over 2%
The Indian rupee strengthened to a six-week high of 94.30 against the US dollar, supported by Reserve Bank of India's measures. However, rising oil prices above $110 per barrel and geopolitical tensions pressured the currency and stock markets. The BSE Sensex dropped 1,605.44 points (2.15%) and NSE Nifty fell 546.15 points (2.36%) over a holiday-shortened week, reflecting market concerns over external finances and crude prices.
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