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India rupee drops for 7th straight year as headwinds swirl near year-end - REUTERS
MUMBAI, Dec 31 (Reuters) - The Indian rupee fell for a seventh straight year in 2024, largely due to headwinds in the last quarter, including Donald Trump's U.S. election victory-spurred surge in the dollar, while locally, slowing growth and a wider trade deficit weighed.
The rupee dropped 2.8% in 2024 to end the year at 85.6150 per U.S. dollar. It fared better than many of its Asian peers, which declined between 3% and 12% due to the dollar's strength and multiple twists and turns in the outlook on U.S. policy rates.