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Wednesday, the Indian rupee slumped against the US dollar and breached the 50 level in almost 2-1/2 -months. The rupee dropped to 50.06 per dollar by about 4:45 am ET. If the Indian currency weakens further, it may likely target a record low of 50.6. At yesterday's New York session close, the dollar-rupee pair was quoted at 49.63.
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