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Rupee falls to 50/dlr,weakest since Dec 3

The rupee fell to its weakest in more than two months on Wednesday,beyond 50 per dollar.

Written by Reuters | Mumbai | Published: February 18, 2009 2:57 pm

The Indian rupee fell to its weakest in more than two months on Wednesday,beyond 50 per dollar as banks bought dollars to arbitrage in the offshore non-deliverable forwards,putting pressure on spot rates.

At 3:05 p.m.,the partially convertible rupee was at 50.01/02,its lowest since Dec. 3 and weaker than its previous close of 49.67/68.

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