Rupee ends at record closing low of 53.9750

May 14, 2012 |

Reuters

mumbai

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The rupee closed at a new provisional record closing low of 53.9750 to the dollar as global risk aversion spiked and as higher-than-expected domestic inflation data hit stocks by lowering expectations for future rate cuts.

The rupee came very close to falling below the psychologically key 54-level and ended not far from the record low of 54.30 hit in mid-December.

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