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Sharp drop in rupee


MUMBAI: The rupee fell against the dollar by 22 paise at 40.11/12 on Monday with heavy buying of dollars by oil refiners.

It closed at 39.89/90 a dollar on Friday. In wide movements at the interbank foreign exchange market, the domestic unit fluctuated in a range of 39.84 and 40.15 during the day after resuming at 39.85/86 a dollar. — PTI

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