Re trims initial losses vs dollar, still down 22 paise

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The rupee trimmed its initial weakness today but was quoted still down by 22 paise to 54.47 per dollar on heavy demand of the US currency from banks and importers as it was strong overseas despite good capital inflows into equities.

The rupee resumed lower at 54.57 per dollar as against the last closing level of 54.25 at the Interbank Foreign Exchange (Forex) Market and dropped further to a low of 54.59.

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