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of <h1>Rupee Drops to 85.78 Against US Dollar Amid Strong Dollar, RBI Sells $1 Billion to Stabilize Currency.</h1> The rupee depreciated by 3 paise to 85.78 against the US dollar in early trade, influenced by the strong performance of the dollar in the global market and a muted domestic equity trend. The US dollar has been gaining strength, with expectations of fewer rate cuts due to economic policies. The Reserve Bank of India intervened by selling USD 1 billion to curb further weakening of the rupee. Meanwhile, the BSE Sensex fell by 441 points, and the Nifty dropped by 113.45 points. Foreign Institutional Investors purchased Rs 1,506.75 crore in the capital markets on a net basis.
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