Rupee settles lower

After breaching the 56 levels to near-nine month low, the rupee recovered to close 10 paise weaker at 55.59 against the dollar on Thursday (23 May 2013) due to dollar selling by exporters.

The Indian unit opened weaker at 55.80 on Thursday after closing at 55.49 due to persistent demand for the American currency and global weakness in equity markets.

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