MUMBAI: The rupee dropped more than 1.5 percent on Monday, falling to 49 per dollar for the first time in a month after a sharp fall in local
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shares and as hefty gains in the dollar versus higher-yielding currencies weighedAt 4:20 p.m. (1050 GMT), the partially convertible rupee was at 48.99/49.00 per dollar, its lowest since July 13 and 1.55 percent below its Friday's close of 48.24/25.
