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Reuters Photo Credit: A cashier counts Indian rupee currency notes inside a bank in Mumbai August 5, 2013. Mixed signals from India's central bank and the government over how to handle the fall in the rupee has contributed to its decline, investors say.

Rupee weak against US dollar

By PTI
15 December, 2014

The rupee made day’s low of 62.73 against the US dollar to trade at over 10-month low against the greenback due to increased demand for the US currency from importers and a weak opening in domestic equity markets.

Forex dealers said besides fresh demand from importers for the American unit at the Interbank Foreign Exchange here, a lower opening in the domestic equity market after industrial output contracted by 4.2 per cent in October — the sharpest decline in at least two years —put pressure on the rupee. 

Besides, dollar’s gains against other currencies overseas weighed on the rupee, they added.

The rupee after falling to over ten-month low of 62.50 against the greenback, bounced back to end 4 paise higher at 62.29 on Friday on selling of dollars by state-run banks on behalf of the RBI. 


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Rupee weak against US dollar

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