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The rupee on Monday closed at all-time low of 53.96 a dollar amid rising inflation and risk aversion by global investors who bet on the US currency as a safe haven in view of fresh euro-zone worries.
Forex dealers said intense dollar demand from banks and importers, mainly oil refiners, in view of higher dollar overseas affected the rupee value against the dollar, despite RBI steps last week to stem the fall of the local unit.
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