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Rupee eases 21 paise on dollar demand
MUMBAI,
APRIL 15.
After briefly breaching the 44 a dollar crucial barrier, the rupee settled at a 18-day closing low of 43.98/99 today, pulled down by sustained heavy all round dollar demand amidst a cash dollar shortage scare and a resurgent dollar overseas.
In volatile trading at the interbank foreign exchange market, the rupee tumbled by yet another 21 paise from Tuesday's close of 43.77/79 after briefly piercing through the psychological 44 a dollar mark and touching 44.00/02, minutes before the final bell, dealers said. It opened on a weak note at 43.82/85, reflecting the dollar's surge to multi-month highs against key European currencies, particularly the euro. The forex market remained closed yesterday on account of Ambedkar Jayanti.
The rupee declined by 13 paise on April 13, dragged down by hectic dollar demand from all quarters amidst fears of a cash dollar shortage. — PTI
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