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Rupee drops against dollar


MUMBAI: The rupee on Thursday fell sharply against the U.S. currency due to heavy dollar demand fearing a steep fall in foreign institutional investment inflow into the stock market after the government increased surveillance in stock prices.At the interbank foreign exchange market, the Indian unit opened weak at 43.8800/8900 a dollar against 43.8850/8925 and thereafter moved between 43.8800 and 43.9300, before ending at 43.9200/9300, sharply lower than the previous close.— PTI

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