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The rupee settled 53 paise lower at 76.13 (provisional) against the US dollar on Friday amid a significant rise in coronavirus cases in the country and weak domestic equities.
Forex traders said heavy selling in domestic equities dragged the local unit amid mounting fears of a coronavirus-led economic slowdown.
Moreover, strengthening of the American currency in the international market also weighed on the domestic currency.
At the interbank foreign exchange market, the rupee opened at 75.97. During the day, it lost further ground and finally settled at 76.13, down 53 paise over its previous close.
The rupee had settled at 75.60 against the greenback on Tuesday.
Forex markets in India were closed on April 1 for the annual closing of banks and on April 2 on account of Ram Navami.
On a weekly basis, the currency has depreciated by 124 paise.
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