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Rupee closes at an all time low of 78.32 against the US dollar

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The rupee closes at an all-time low of 78.32 against the US dollar, as a strong US currency and persistent foreign fund outflows dampened investor sentiment.

On Wednesday, India’s benchmark stock index closed 443.19 points, or 0.86 percent higher, at 52,265.72, with the broader NSE Nifty closing at 15,556.65.

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According to stock exchange data, foreign investors continued to be net sellers in the capital market, offloading shares worth Rs 2,920.61 crore.

The dollar index, which measures the strength of the US currency against a basket of six currencies, increased 0.41 percent to 104.62.

The Indian rupee lost early morning gains as safe-haven demand pushed the US dollar higher ahead of quarter-end adjustments.