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Rupee dips to record closing low

MUMBAI: The rupee on Monday tumbled to a new record closing low of 46.75/76 against the U.S. currency, pulled down by fresh negative developments amid very strong dollar overseas with the outlook extremely uncertain owing to rising crude prices and a slowdown in foreign institutional investment inflows.

Resuming extremely weak by more than ten paise from the last weekend's close of 46.3650/3750 a dollar, the rupee came under severe pressure in the latter part of the day, fuelled by the news of an earthquake in the Indian Ocean and a subsequent Tsunami warning for Indonesia and Australia. — PTI

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