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At 4.05 p.m. local time, the rupee was trading weak by 17 paise at 61.93 per dollar on fresh dollar demand from importers despite heavy capital inflows into the domestic equity market.
The domestic unit hovered in the range of 61.65 and 61.94 in the afternoon trade after opening strong by eight paise to 61.68 in early trade at the Interbank Foreign Exchange market today.
Forex dealers said fresh demand for the American currency from importers despite sustained capital inflows, weighed on the rupee sentiment.
The rupee had strengthened by 18 paise to end at 61.76 against the greenback on Friday on suspected selling of the US dollar by state-run banks on behalf of the RBI and a strong rally in local stocks.
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