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    HomeNewsBusinessMarketsRupee closing in on record low; RBI watched

    Rupee closing in on record low; RBI watched

    The rupee is closing in on record low as equities remain weak and USD strengthens against crosses. The Indian unit falls to 58.6425, versus 57.87/88 at Monday's local close.

    June 18, 2013 / 13:51 IST

    The rupee is closing in on record low as equities remain weak and USD strengthens against crosses. The Indian unit falls to 58.6425, versus 57.87/88 at Monday's local close.


    Dealers say USD supply has dried, pushing pair up, which was largely helped by a large private corporate selling.


    Dealers cite some defence-related USD buying also by state-run banks.


    Local stocks down 0.43 percent.


    RBI intervention watched as pair nears record high of 58.98 seen last week.

    first published: Jun 18, 2013 01:51 pm

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