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Millennium Post

Rs slips 22p to end at 7-month low of 61.75

The rupee on Tuesday lost 22 paise to end at almost seven-month low of 61.75 against the dollar as month-end demand for the US currency from oil importers weighed on the local unit.

Sluggish local equities after the Reserve Bank kept key rates unchanged in its monetary policy and slowdown in foreign fund inflows put some pressure on the rupee, a forex dealer said.

The dollar index was sharply up by 0.60 per cent against a basket of six major global units. It was also up against other Asian units.

At the Interbank Foreign Exchange (Forex) market here, the domestic currency commenced lower at 61.60 from last close of 61.53.

It moved in a range of 61.82 and 61.55 before concluding at 61.75, a fall of 22 paise or 0.36 per cent from its last close.
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