India, Nov. 20 -- The rupee weakened by 20 paise to close at 88.68 against the US dollar on Thursday, pressured by a firm American currency and diminishing expectations of a US Federal Reserve rate cut.
Forex traders noted that the dollar rallied past the 100 mark after Fed minutes showed most officials opposed a December rate cut.
The rupee opened at 88.63 in the interbank forex market and slipped further to an intraday low of 88.74. It also touched a high of 88.62 during the session.
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