Exchange rate finds stability at Rs. 118

Wednesday, 22 February 2012 01:48 - - {{hitsCtrl.values.hits}}

The rupee closed slightly weaker at 118.50/60 to the dollar, compared with Friday’s close of 118.20/40. It hit an all-time low of 120.90 on Wednesday, after the Central Bank stopped supporting a specific price level.

Dealers said the rupee currency weakened as importers bought dollars despite stock-related greenback sales by banks, according to Reuters

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