Rupee posts weekly fall despite rate hike amid adverse flows, weak sentiment

In recent trading, the Indian rupee closed at 96.73 against the dollar, showing minimal fluctuation from its prior standing. The rupee's slide was mitigated by dollar sales from state-run banks, although it lingers close to record lows. Analysts foresee a further downturn due to challenging market conditions, with the currency's stability affected by a decline in India's foreign exchange reserves over the past four weeks.