Rupee declines

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MUMBAI: The rupee depreciated against the U.S. currency to close at 44.29/30 on Friday following steep fall in equity markets amid heavy pull-out by foreign funds and some dollar buying by importers.

In quiet trade at the interbank foreign exchange market, the Indian unit opened slightly easier at 44.2750/2850 a dollar from Thursday's close of 44.26/27.

It later moved in a narrow range of 44.26 and 44.32 before ending three paise lower at 44.29/30 a dollar. Forex dealers attributed the fall in the rupee to steep decline in equity markets. PTI



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