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The rupee was down by 13 paise at 44.82 per US dollar in the early trade today on renewed dollar demand from banks and importers on the back of a firm greenback in the overseas market.
At the Interbank Foreign Exchange, the rupee opened lower at 44.75/76 per dollar against the previous closing level of 44.69/70 per dollar and dropped further to 44.82 per dollar. At 10.30 a.m., it was quoting at 44.80/81. It hovered in a range between 44.75 and 44.82 per dollar in the morning deals.
Fresh dollar demand from banks and importers in view of the firm greenback in the overseas markets mainly affected the rupee value against the dollar, a forex dealer said.
The euro extended its losses against the US dollar in the New York market on Wednesday as widespread strikes in Greece and more worries about Portuguese banks reduced confidence in Europe’s ability to devise a solution to its sovereign debt problems.
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