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Mumbai The Indian rupee weakened to an all-time low of 51 per dollar in afternoon trade on Friday, weighed down by heavy dollar demand from importers to meet month-end commitments and losses in local shares.
At 12:34 p.m., the partially convertible rupee had recovered slightly to 50.87/88, having been lifted off a low of 51.00 by buying from state-run banks which dealers said was likely to have been on behalf of the RBI.
The rupee had closed at 50.45/47 on Thursday.
Source: the indian express
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Mumbai The Indian rupee weakened to an all-time low of 51 per dollar in afternoon trade on Friday, weighed down by heavy dollar demand from importers to meet month-end commitments and losses in local shares.
At 12:34 p.m., the partially convertible rupee had recovered slightly to 50.87/88, having been lifted off a low of 51.00 by buying from state-run banks which dealers said was likely to have been on behalf of the RBI.
The rupee had closed at 50.45/47 on Thursday.
Source: the indian express
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