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Rupee erases initial losses, at 55.62/dollar

Recovered to 55.57 on mild selling of dollars before quoting at 55.62

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Press Trust of India Mumbai
Last Updated : Jan 24 2013 | 2:11 AM IST

The rupee erased early losses today and was trading at 55.62 against the dollar at the Interbank Foreign Exchange (Forex) Market.

The rupee resumed marginally higher at 55.60 per dollar as against the last closing level of 55.63, but fell sharply to 55.74 on good demand for the American currency from banks and importers.

However, it recovered to 55.57 on mild selling of dollars before quoting at 55.62 at 1040 hrs.

In New York, the dollar index climbed to its highest level in about two years yesterday.

Meanwhile, the BSE 30-stock benchmark Sensex fell by 178 points or 1.02% at 1050hrs.

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First Published: Jul 12 2012 | 11:30 AM IST

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