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The recent market turmoil has put pressure on the Indian rupee, causing it to slide to 82.61 against the US dollar. This depreciation is largely due to a surge in COVID-19 cases in India and the global market turmoil caused by the Omicron variant. The decline in the value of the rupee could have a negative impact on the Indian economy, particularly in terms of inflation and the cost of imported goods. The Reserve Bank of India may need to take measures to stabilize the rupee and mitigate the impact of market volatility.
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