Rupee breaches 51 level
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Last Updated: Mon, Mar 30, 2009 18:22 hrs
Mumbai: The rupee breached the 51 level in morning trade on Monday as oil refiners stepped up dollar buying at the month-end amid weak equity markets.
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In active trade at the Interbank Foreign Exchange (forex) market, the domestic currency resumed weak at 50.90/92 a dollar against its previous close of 50.58/59 and later fell to 51.03 level before being quoted at 50.96/97 a dollar in late morning trade.
Forex Rates
Forex dealers said the rupee came under pressure as oil refiners stepped up dollar purchases ahead of the month-end for their import payments. They said the local unit also moved downwards as equity markets opened weak this morning.
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