Rupee fall news (sep-20-2012)
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Rupee fall news (sep-20-2012)

Chennai : India | Sep 19, 2012 at 10:15 PM PDT
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Rupee falls after TMC pulls out from government

DATE: 20/09/2012

The rupee fell to its lowest in nearly a week in early trades on Thursday as Trinamool Congress, key ally of the Congress-led government, withdrew support in protest against the diesel price hike and opening up the multi-brand retail sector.

The support withdrawal will put the fate of the government in the hands of regional parties and put a question over future reforms in sectors like pension and insurance.

At 09:05 a.m. local time, the rupee was at 54.38/40 to the dollar as against 54.01/02 Tuesday close. It fell to 54.42, its lowest since September 14. The market was closed on Wednesday for a religious holiday.

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banknifty2012 is based in Chennai, Tamil Nadu, India, and is a Stringer on Allvoices.
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