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Rupee at 1-year low as record oil weighs

Reuters
Posted online: Thursday , May 08, 2008 at 1252 hrs IST

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Mumbai, May 8: The Indian rupee fell to its lowest in more than a year on Thursday as record high oil prices spurred demand for dollars from refiners and fund flows into the stock market slowed.

At 11:40 a.m., the partially convertible rupee was at 41.72 per dollar, its lowest since April 23, 2007. It had ended at 41.36/37 on Wednesday.

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