The Indian rupee weakened significantly, crossing the 95 per dollar mark for the first time in almost a month. This decline occurred ahead of anticipated hawkish remarks from the US Fed chair. The Reserve Bank of India intervened to limit further losses, though the rupee experienced its sharpest fall since early June. Traders anticipate a new trading range for the currency in the coming days.

The rupee fell sharply to a three-week low of 95.25/$, driven by aggressive dollar buying and rising global pressures.

Mumbai, Jul 1 (PTI) The rupee depreciated 60 paise to close at 95.16 against the US dollar on Wednesday, as a strengthening dollar index weighed on emerging market currencies.…