Rupee tumbles to lifetime low past 95.74 as outflows overpower any comfort from gold duty hike

Dollar demand keeps rising even as gold import duties jump

The Indian rupee fell to a record low, slipping to about 95.74 per US dollar as overseas debt repayments and importer hedging continued to drain demand for the domestic currency. The move wiped out any potential support from higher gold import duties, with persistent outflows keeping pressure on forex markets despite brief relief hopes.