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Retreating from multi-month high, the rupee on Monday plunged 18 paise to close at 65.03 against the US currency on fresh dollar demand from importers and banks. This is the biggest one-day fall against the greenback in nearly two months.
The domestic unit resumed higher at 64.80 from last Friday’s closing value of 64.85 at the Interbank Foreign Exchange (Forex) market and strengthened further to 64.76 on steady dollar unwinding from exporters and speculators.
However, the home currency suffered a sudden jolt in late afternoon deal to skid below 65-mark to touch a intra-day low of 65.09 due to bouts of dollar demand. It finally settled the day at 65.03, revealing a sharp loss of 18 paise.
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