Friday, Nov 21, 2003
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Nervousness gripped the interbank foreign exchange market, as near frenzy dollar short-covering from all quarters took a large chunk of 14 paise of the rupee value in the face of depleted dollar supplies, dealers said.
Apprehensions of a slowdown in foreign fund inflows due to the approaching year-end and the new ECB norms have weighed considerably on the rupee value, they added.
Opening around the overnight finish of 45.62/63, the rupee rapidly tumbled to a low of 45.78/80, before settling at 45.75/77 at close.
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