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2008-05-16

Rupee falls to fresh 13-month low

The rupee fell to a fresh 13-month low on Friday as record high oil prices and worries about muted capital flows into a slowing Economy increased demand for US dollars.


At 1:42 p.m., the partially convertible rupee was at 42.83 per dollar, a level it last traded on April 12, 2007, according to Reuters data. It had closed at 42.75/76 on Thursday.

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Disclaimer

Ours is an advisory role. The final decision and consequences based on our Information is solely yours. Moreover, in keeping with regulatory guidelines, we do not guarantee any returns on investments. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice.