Rupee vs Dollar, Sept. 1 -- The Indian rupee slipped to a new record low on Monday, driven by heavy hedging from importers and a rise in short positions amid higher U.S. tariffs.

Rupee weakened to 88.33 against the U.S. dollar, surpassing Friday's previous record low of 88.3075. Analysts noted that this decline continued the pressure observed late last week.

(This is a developing story)

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