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The rupee weakened for the second straight session on Thursday, slipping by 2 paise to 70.20 against the US dollar on robust foreign fund outflows amid rising trade deficit worries.
At the Interbank Foreign Exchange (forex) market, the rupee opened lower at 70.30 and fell further to touch the day’s low of 70.53. The domestic currency, however, pared some losses and finally ended at 70.20 per dollar, down by 2 paise against its previous close.
On Wednesday, the rupee had tumbled 75 paise to 70.18 against the American currency.
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