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The rupee lost 30 paise to Rs 51.20 per US dollar in early trade today, falling past the Rs 51 per dollar-level last seen on March 31, 2009, on persisting demand for the American currency from banks and importers.
The rupee resumed lower at Rs 51.05/06 per dollar on the Interbank Foreign Exchange, against its previous close of Rs 50.90/91 per dollar, and dropped further to Rs 51.20 per dollar before quoting at 51.13/14 per dollar at 10:30 a.m.
The domestic currency moved in a range between 51.02 per dollar and Rs 51.20 per dollar during morning deals.
Sustained dollar demand from banks and importers in view of dollar firmness in overseas markets amid weak domestic equity markets mainly affected the rupee value against the dollar, a forex dealer said.
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