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Our Bureau

Mumbai, Oct. 23 The rupee continued its free fall against the dollar on Thursday, closing at an all-time low of 49.81/82.

The Indian currency depreciated by 50 paise against the greenback tracking the losses in the domestic equity indices, said forex dealers. Analysts expect it to breach 50 a dollar level any time now.

The rupee opened at 49.65/67 and weakened further to touch an intra-day low of 49.86. It closed at 49.81/82, against the previous close of 49. 30/31.

“With the dollar strengthening overseas against the pound and the euro, there is an increased demand for the greenback,” said a treasury head with a private sector bank.

Even though the RBI is selling dollars to support the rupee, it is only helping in checking the volatility, he added.

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