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The rupee depreciated by 29 paise to 45.35 per US dollar in the early trade at the Interbank Foreign Exchange market today, weighed down by the dollar’s gains against other Asian currencies and a weak opening in the domestic stock market.
Forex traders said that the dollar’s gains against most other Asian currencies and sharp losses in the opening trade in the stock market mainly put pressure on the rupee.
The domestic unit rose 18 paise to close at 45.06/07 against the US currency on Monday, supported by the recovery in stocks amid dollar-selling by exporters.
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