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Rupee again hits 61 level, approaches record low

This article was posted on Jul 31, 2013 and is filed under Market News

Mumbai: The rupee on Wednesday breached the 61-mark again against the dollar in early trade at the Interbank Foreign Exchange market, on heavy month-end demand for the US currency amid growth concerns.

The rupee fell to as low as 61.12 to the dollar, not far from its record low of 61.21 hit on July 8.

Besides, dollar firming up against other currencies in overseas markets ahead of the US Fed concluding its policy meeting and a weak opening in the domestic equity market, mainly put pressure on the domestic currency, forex dealers said.

The rupee had declined by a whopping 106 paise to close at three-week low of 60.47 yesterday, wiping out all the gains notched up on central bank’s recent liquidity tightening measures.

Meanwhile, the BSE benchmark Sensex fell by 147.86 points, 0.76 per cent, to 19,200.48 in early trade today.

Source: Zeenews.com

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