Rupee plunges 13 paise to settle at new record low of 85.87 against US dollar

The rupee plummeted 13 paise to a new record low against the US dollar amid surging crude prices, a stronger US dollar, and weak domestic equities. Government projections indicate a fall in economic growth to 6.4% in 2024-25, driven by underwhelming performance in manufacturing and services.

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