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HindustanTimes Sat,19 Apr 2014

Rupee down 17 paise vs dollar in early trade

PTI  Mumbai, March 26, 2013
First Published: 10:06 IST(26/3/2013) | Last Updated: 10:08 IST(26/3/2013)

The rupee on Tuesday weakened by 17 paise to 54.34 against the US dollar on the Interbank Foreign Exchange market in early trade, due to month-end demand for the American currency from importers.

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Traders said apart from month-end demand from importers for the US currency, a lower opening in the equity market on worries over domestic political stability mainly put pressure on the rupee.

The rupee had gained 16 paise to close at one-week high of 54.17 in the previous session on fresh selling of the US dollar amid strengthening of the euro overseas after Cyprus reached a bailout agreement with international lenders.

Meanwhile, the BSE benchmark Sensex was down by 59.72 points, or 0.32%, at 18,621.70 in early trade on Tuesday.

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