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The rupee sank to an all-time low on Thursday, closing at 76.87 to the dollar against the previous close of 76.44, as there were hardly any dollar inflows in the market and the coronavirus cases showed a rising trend in the country.
The Indian unit opened 31 paise weaker at 76.75 over the previous close. Intraday, it tested a low and high of 76.87 and 76.68, respectively.
Forex dealers said the forward premiums indicate that the rupee is expected to depreciate further. They added that the central bank may intervene on Friday to stem the rupee from touching the 77 level.
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