The Hindu Business Line : Rupee drops on inflation data

MUMBAI: The rupee declined in the afternoon session on Friday on reports of rising inflation. Oil refiners renewed their dollar buying that pushed the rupee downwards.

The rupee had fallen to 42.75/76 in late deals after inflation data raised concerns of slowing growth amid dollar demand from oil companies.

Earlier, the local unit opened higher at 41.59/61 a dollar from yesterday's close of 42.75/76.

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