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ET: Global oil demand for 2010 to be 'sluggish': IEA news
 
MUMBAI: The rupee touched a one-week low on Friday weighed down by choppy domestic equities and the dollar's rise against the euro overseas.

The partially convertible rupee ended at 45.78/79 per dollar, off the day's trough of 45.83, its weakest since January 8, and about 0.3 per cent weaker than its Thursday's close of 45.62/63 per dollar. The rupee was little changed on the week.

"A stronger dollar has triggered importers to buy this currency because of some uncertainty whether the rupee would keep its rising momentum in the coming weeks," said a dealer with a private bank.

The euro fell against the dollar as worries about Greece's economy highlighted weakness in the euro zone and investors awaited US consumer price index and manufacturing data later on Friday for cues about recovery in the world's biggest economy.

The dollar index against six majors was up about 0.6 per cent. Traders said seesawing local share prices also added to concerns whether foreign investors would keep up their pace of investments into the stock markets.

The benchmark BSE share index ended 0.2 per cent lower on Friday. Foreigners bought more than $17 billion of Indian shares in 2009 and are net buyers of nearly $1.7 billion this month.

One-month offshore non-deliverable forward contracts were quoted at $45.75/85 per dollar, close to the onshore spot rate. In the currency futures market, the most traded near-month contracts on the National Stock Exchange and MCX-SX were both quoting at 45.83.
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