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The Indian rupee opened weaker to close in on a record low on Friday, with traders expecting the Reserve Bank of India to step in to sell dollars should the currency approach 60 against the greenback. The rupee was trading at 59.69/70 to the dollar at 9.03 am, not far from a record low of 59.9850 hit on Thursday.

Gold fell to a three-year low on Friday and was in danger of recording its biggest weekly drop in 30 years after the US Federal Reserve said it would wind down its bullion-friendly stimulus later this year. Spot gold – down nearly 9 percent this week – dropped for the fifth straight session, while Comex gold futures also declined over 1 percent to their lowest in three years.

 

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