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Rupee down 50 paise in early trade |
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By: PTI |
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Date:
2008-11-06 |
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Place: Mumbai |
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Mumbai: The Indian rupee today plunged by 50 paise at 47.94 against the greenback in early trade following heavy dollar demand from importers amid weakening equity markets.
At the Interbank Foreign Exchange (forex) market, the domestic unit, which gained 29 paise to end at 47.44/46 a dollar yesterday, fell by 50 paise as banks also went on a buying spree for dollars.
The stock markets yesterday snapped its five-day gaining streak with the benchmark Sensex shedding over 500 points on selling by funds.
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