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Rupee at 8-week low, down 21 paise against US dollar

The Indian currency closed 13 paise higher at Rs 44.86/87 against the dollar in Friday's trade due to fresh selling of the greenback by banks and exporters.

twitter-logoPTI | May 16, 2011 | Updated 10:26 IST

The Indian rupee weakened by 21 paise to trade at nearly an eight-week low of Rs 45.07 against the US dollar in early trade on the Interbank Foreign Exchange on Monday, largely in line with weakness in other Asian currencies against the US dollar overseas.

The Indian currency closed 13 paise higher at Rs 44.86/87 against the dollar in Friday's trade due to fresh selling of the greenback by banks and exporters and gains in the equity market.

Forex dealers said weakness of the euro, which slid to a six-week low, and other currencies against the dollar overseas and a lower opening of the domestic stock market mainly put pressure on the rupee sentiment.

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