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Rupee breaches 40-mark

MUMBAI: The rupee lost 10 paise against the dollar on Wednesday and breached the crucial 40 level for the first time in two weeks at 40.05/06 on heavy demand for dollar from oil refiners following crude prices touching record levels. The rupee closed at 39.95/96 on Tuesday.

In wide movements at the interbank foreign exchange market, the rupee moved in a range of 40.09 and 39.90 after resuming steady at Tuesday’s closing level 39.95/96 a dollar. In overseas markets, the dollar dropped to a new low against the euro on Tuesday. — PTI

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