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Rupee Down on Import Payments

Rupee Down on Import Payments

Business News – The rupee weakened at 97.34/97.40 against the dollar, compared to Wednesday’s 97.17/97.23.

The rupee came under pressure due to import payments. The local currency may fall further due to strong demand for the dollar from importers, a dealer said.

Overnight rates in the money market ended at 10 percent compared to Wednesday’s close of 9.90 percent. (Reuters)

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