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Rupee drops 14 paise

MUMBAI: The Indian rupee’s roller-coaster ride against the U.S. currency continued on Friday with the domestic unit losing 14 paise to breach the crucial 40-mark for the second time in three days at 40.05/06, as dollar buying resumed amid weak Asian markets.

Rupee premiums on forward dollar closed sharply lower due to fresh shortage of dollar supplies in the system.

In fairly active trading at the interbank foreign exchange market, the rupee opened steady at 39.92/93 against Thursday’s close of 39.91/9250. — PTI

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