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The rupee fell 20 paise to an early low of Rs 52.26 per US dollar today on good demand for the American currency from banks and importers in view of a higher dollar in overseas markets.
The rupee resumed lower at Rs 52.15/16 per dollar at the Interbank Foreign Exchange against its previous close of Rs 52.06/07 per dollar. It dropped further to Rs 52.26 per dollar before quoting at Rs 52.08/09 per dollar at 11.00 am.
The domestic currency moved in a range between Rs 52.06 and Rs 52.26 per dollar in the morning deals.
Good dollar demand from banks and importers, mainly oil refiners, on the back of a higher dollar in overseas markets mainly affected the rupee value against the dollar, a forex dealer said.
In Singapore, the euro dipped to a fresh seven-week low against the dollar in early trade, with markets seeing no end in sight to the euro zone debt crisis.
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