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Rupee loses ground; drops below 54 to the dollar
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INR
83.383 | United States Dollar |
Demand from crude oil importers was one of the reasons for today's drop dealers say. Last week the rupee had rallied passed the 54 mark for the first time in many weeks, as a fall in crude oil and gold it was believed would help control India's current account deficit, which has surged to record levels.
Though India's stock markets performed remarkably well last year, the rupee did not gain much as rising imports curbed gains.
GoodReturns.in
Story first published: Monday, April 22, 2013, 12:23 [IST]