Rupee ends lower

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MUMBAI: The rupee on Monday ended at 40.55/56 against the U.S. currency, cheaper by ten paise from Friday’s close of 40.4550/4650 due to sluggish equity markets and good dollar demand from oil refiners. In fairly active trade at the interbank foreign exchange market, the rupee moved in a range of 40.43 and 40.63 during the day after resuming steady at 40.45/47 amid strong possibility of a rate cut by the U.S. Federal Reserve. — PTI



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