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Reuters: The rupee fell on Tuesday as importer dollar demand outpaced greenback selling by exporters in the absence of intervention by the Central Bank through State-run lenders, dealers said.
The rupee fell 3% on Friday to a record low of 139.00 per dollar after the Central Bank effectively floated the currency by ceasing to quote its own reference rate.
The spot rupee ended 0.36% weaker at 138.30/50 per dollar, compared with Monday’s close of 137.80/85.
“Exporter dollar selling is there, but importer demand is more,” said a currency dealer asking not to be named.
Some dealers said the central bank, which usually directs the market through State-run banks, did not interfere in the market on Tuesday.
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