| Rupee dropped to a record low on Monday as falling stocks, weak data, bearish global markets and an arbitrage play with offshore derivatives drained demand despite suspected central bank intervention. Rupee closed at 51.90/92 per dollar, sharply down from 51.10/12 on Friday. The rupee fell 1.5 percent on the day, taking its losses to 6.2 percent in 2009. |
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