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Monday, October 18, 2010

Rupee trims fall as shares end higher

The Indian rupee retreated from the day's low on Monday as domestic shares reversed early losses but the euro's fall versus the dollar continued to weigh on sentiment.

At 4 p.m., the partially convertible rupee was at 44.28/29 per dollar, off the day's low of 44.41/50, but still weaker than 44.10/11 at close on Friday, when it had risen to 43.95, its highest since Aug. 29, 2008.

"The dollar has recovered versus majors and some of that is rubbing off on the rupee too. Stocks, however, recovered from the day's lows, capping further losses, The index of the dollar against six majors up 0.3 percent.