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Indian rupee near two-week low

Indian rupee near two-week low
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First Published: Wed, Aug 13 2008. 09 07 AM IST
Updated: Wed, Aug 13 2008. 09 07 AM IST
Reuters
Mumbai: The Indian rupee fell sharply to its lowest in nearly two weeks on Wednesday as local shares are expected to follow the lead of Asian stock markets, which could sour foreign fund inflows.
Regional shares outside Japan hit a 17-month low on the growing risk of a sharp global economic slowdown.
Foreign funds have bought Indian shares worth $463 million this month after being net sellers of more than $250 million in July.
At 9:14 a.m., the partially convertible rupee was at 42.575/585, weaker than Tuesday’s close of 42.37/38 per dollar.
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First Published: Wed, Aug 13 2008. 09 07 AM IST
More Topics: Markets | India | Rupee | Dollar | Exchange Rate |