EFENew Delhi

The Indian rupee on Monday dropped to a new all-time low, trading at over 77.4 rupees per United States Dollar in international currency markets, continuing its depreciation trend from the last four years.

This is the rupee's lowest value since March, when it had touched the price of 77.02 units per USD.

Rupee's devaluation had so far been attributed to rising oil prices and the instability caused by the Ukraine war, but now a stronger dollar has contributed to a further slump in the Indian currency.

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