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Rupee loses on defence-related USD demand

Source : REUTERS
Last Updated: Thu, Sep 13, 2012 07:13 hrs
An employee arranges Indian currency notes at cash counter inside a bank in Agartala

The rupee extends losses to 55.44/445 versus its previous close of 55.21/22. Traders cite government-driven demand for dollars, which they say could be tipped to defence payments.

Some short-covering from banks also seen in early trade, following the pair's fall to three-week lows in the previous session, dealers add.

Traders expect 55.55 to be the top for the USD/INR ahead of the U.S. Federal Reserve's meeting outcome later in the day and domestic inflation due on Friday.

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  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
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