Rupee weakens 20 paise per dollar

The rupee has been trading weak since trading opened today and has moved in a range between 50.58 and 50.70 to the dollar. Continuous demand for dollar from banks and importers weighed on the rupee.

Domestically, high inflation and the large fiscal deficit were also some of the main factors driving the rupee down against the US dollar.

At 11.50 am IST the partially convertible Indian rupee was seen trading at 50.59 lower by 0.20.

Meanwhile, Markets were trading in a narrow band, the BSE was seen up 40 points, while the 50-share NSE Nifty was up by 10 points.

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