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Rupee drops 14 paise in early trade

 Rupee drops 14 paise in early trade
The Indian rupee dropped 14 paise in early trade on weak global cues and after the Federal Reserve maintained a lesser dovish tone after its Open Market Committee Meet.

The rupee was last trading at 61.38, a drop of 14 paise over Wednesday's close of 61.24.

The rupee has seen a sharp recovery in the last few weeks after hitting a record low of 68.81 earlier this year. Reserve Bank of India intervention and government policies have ensured a recovery in the rupee.

Dealers say the rupee is likely to stay rangebound in the coming weeks and will now await global cues. Check rupee rates here

Read more about: dollar currency
Story first published: Thursday, October 31, 2013, 9:09 [IST]
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