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Rupee falls to nine-month low on broad dollar strength
Highlights
Rupee Falls to Nine-Month Low on Broad Dollar Strength. The rupee slumped to its lowest level in nine months on Thursday, tracking the dollar\'s strength against major currencies and other Asian peers, while state-owned banks\' dollar demand for Iran oil payments also weighed.
Mumbai: The rupee slumped to its lowest level in nine months on Thursday, tracking the dollar's strength against major currencies and other Asian peers, while state-owned banks' dollar demand for Iran oil payments also weighed.
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The partially convertible Indian rupee was trading at 62.1850/1900 after falling to as low as 62.22 per dollar, its lowest since February 20. Traders expect the rupee to trade in a 61.90-62.30 range during the session.
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