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The rupee fell by 9 paise to Rs 45.76 per US dollar in early trade today on month-end dollar demand from importers, coupled with a higher dollar overseas amid weak local equity markets.
The rupee resumed lower at Rs 45.70/71 per dollar on the Interbank Foreign Exchange as against its previous close of Rs 45.67/68 and hovered in a range between Rs 45.60 and Rs 45.76 before quoting at Rs 45.72/73 per dollar at 10.30 a.m.
Month-end dollar demand, especially from oil refiners, mainly affected the rupee value against the dollar, a forex dealer said.
Persistent capital outflows from foreign funds in view of weak equity markets, coupled with a higher dollar in overseas markets, were the other factors behind the fall in the rupee value.
The dollar edged slightly higher against a basket of currency rivals in New York yesterday as US stock indices pared gains, forcing currency traders to adjust their estimations of how strongly investors were willing to move into riskier assets.
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