Rupee ends at record closing low against US dollar for seventh straight session
MUMBAI, Jan 1 (Reuters) – The Indian rupee weakened slightly on Wednesday, pressured by dollar bids from importers, which pushed the currency to a record closing low for the seventh consecutive session and affirmed the depreciation bias on the local unit. The rupee closed at 85.6450 against the U.S. dollar, down from its close of 85.6150 in the previous session. Global cues were muted on the day, with most markets shut for the New Year holiday. While the first trading session of 2025 was relatively lacklustre, traders expect the rupee to remain under pressure in the near term due to