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Rupee reacts on sluggish equity markets

MUMBAI: The rupee on Wednesday reacted downward to close at 40.45/46 against the dollar following sluggish equity markets and a slowdown in capital inflows.

In fairly active trade at the interbank foreign exchange market, the Indian unit opened lower at 40.44/46 from Tuesday’s close of 40.3750/3800 a dollar.

Later, it moved erratically in a range of 40.43 and 40.5550 on alternate bouts of buying and selling.

Finally, it finished the day at 40.45/46, near seven paise higher than previous close.

A meltdown in worldwide equity markets which has a ripple effect on the Indian bourses also impacted negatively. — PTI,

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