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Rupee hits 7-week low on import payments-news07032012

Wednesday, March 07, 2012

The rupee fell to a seven-week low early on Wednesday, extending a slide to a fifth consecutive session, on strong demand for dollars from oil refiners and slowing capital inflows as global risk appetite wanes.

At 9:01 a.m. (0331 GMT), the rupee was at 50.58/59 to the dollar, it’s weakest since January 18 and off Tuesday's close of 50.36/37.
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