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Forex »
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Rupee at 1-month low on dollar rise, share losses
November, 12th 2010

The Indian rupee extended its fall to a one-month low on Friday as broad gains in the U.S. unit versus majors and bunched up demand for dollars a day after the Veteran's Day holiday in the U.S. weighed.

At 12:04 p.m. (0634 GMT), the partially convertible rupee was at 44.64/65 per dollar , after hitting 44.65, its weakest since Oct. 12, and below its previous close of 44.31/32 on Thursday.

Traders said weak local shares also added to the downward pressure on the rupee. Shares were trading down nearly 1 percent while the dollar's index against six majors was up 0.3 percent.

 
 
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