The rupee touched the 48 mark to a dollar in highly volatile trade. The rupee opened at 47.96 and touched a low of 48.15. It closed at 47.93/94, against the previous close of 47.81/82. During the day, it moved in a range of 43 paise. Another reason for the drying up of dollar supply is the reduced inflows on account of buyers'' credit, pre-shipment or packing credit that exporters avail of. While it is difficult to predict what level the rupee may fall to, the next support could be at 48.75.
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