May 25, 2012

Rupee drops

The rupee weakened in opening trade on Friday, reversing its previous session of gains, as global risk aversion continued to darken the near-term prospects for the local unit.

At 9:02 AM, the partially convertible rupee was at 56.02/03 per dollar, sharply below Thursday's close of 55.65/66 and approaching the record low of 56.40 hit in the previous session.

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