June 6, 2013 1:44 PM

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Rupee declines 16 paise against dollar

The rupee today declined by 16 paise against the US Dollar in late morning trade at 56 Rupees 89 paise after reaching 11-month low of 56 Rupees 97 paise in early trade on the Interbank Foreign Exchange market due to heavy dollar demand from importers. Besides, increased demand for the American currency from importers and a weak opening in the domestic equity market also put pressure on the rupee.

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