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Money & Banking
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Forex
Rupee falls tracking Sensex
Mumbai, Oct. 18
The rupee plunged further against the dollar on Thursday, tracking the fall in the domestic stock market. The home currency opened at 39.46/47, fell to an intra-day low of 39.82, finally closing at 39.77/78, against Wednesday’s close of 39.54/55. Forex dealers said that there was all-round dollar buying as the Sensex shed 717 points. However, the rupee gained slightly before closing, as exporters saw an opportunity and began selling dollars. “The outlook contin
ues to remain negative for the dollar as globally the greenback is losing ground. The rupee may bounce back to 39.40-39.50 on Friday, if nothing untoward happens at the stock market,” said a dealer at a private bank. In the forward premia market, the six-month closed at 1.09 per cent (1.44) and the 12-month ended at 0.96 per cent (1.18). —
Our Bureau
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