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Tuesday, September 16, 2008

Rupee falls to nearly 47


Ends at 46.89/90

Rupee posted its biggest fall in a decade on Tuesday, hit by risk aversion and banks arbitraging a weaker offshore rate, although suspected RBI intervention stopped the slide just short of 47 per dollar.

Rupee ended at 46.89/90 per dollar, off a trough of 46.99 which was its lowest since July 24, 2006