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The Indian rupee hit a record low of 92.37 against the US dollar on Friday, influenced by rising global crude oil prices and a stronger greenback. Heavy foreign institutional investor selling and weak domestic equity markets further pressured the rupee, which has remained vulnerable amid ongoing geopolitical tensions.
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News and Media
Despite the Middle East war and rising geopolitical tensions, gold prices have fallen, defying their safe-haven appeal. This counterintuitive trend is attributed to a broad risk-off sentiment, a strong US dollar, and profit-booking after earlier rallies. Experts suggest this is a short-term adjustment, with long-term fundamentals still supporting precious metals.
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News and Media
Shares of appliance makers Stove Kraft, TTK Prestige and others soared up to 5% as West Asia tensions disrupt cooking gas supplies. India, a major LPG importer, faces shortages. Restaurants are switching to simpler menus. Demand for induction cooktops has surged significantly. This situation impacts gas prices and availability across the country. Railway food centers are also adopting alternative cooking methods.
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News and Media
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