The Indian rupee today breached the crucial 45-level against the US currency for the first time after November 2006 following sustained appreciation in dollar against major currencies in overseas markets.
In quiet trade at the Interbank Foreign Exchange (forex) market this morning, the local currency resumed cheaper by nine paise at 44.92/94 a dollar from its last close of 44.83/84 a dollar and later drifted to 45.02/03 a dollar in late morning deals.
Forex dealers said the rupee crossed the psychological level for the first time since November 2006 largely due to stronger dollar overseas amid some dollar demand from oil refiners.
Consistent capital outflows in the current calendar year also had adverse impact on the rupee sentiment, they added.
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