The Indian rupee on Tuesday plunged by 22 paise against the greenback in early trade following fresh dollar buying by state-run banks amid weak Asian stock markets.
At the Interbank Foreign Exchange (Forex) market, the local currency, which gained 82 paise at 48.64/65 on Monday, fell by 22 paise at 48.87 against USD at 0930 hrs.
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Dealers in foreign exchange said strengthening of dollar against other major Asian currency also attributed to the fall in rupee.
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