Rupee weakens ahead of RBI policy review

Mumbai, July 28 (UNI) The Rupee opened weaker by nearly three paise at 42.29/30 per US Dollar, from its previous close of 42.26/27 per dollar, ahead of policy review by the Reserve Bank of India.

The local unit slipped from early highs, on month-end dollar buying by oil refiners and as investors hung fire ahead of policy review on Tuesday, uncertain if RBI would raise rates or not, dealers said.

Rupee had hit a two-months high at 41.82 per dollar last week, its highest since May 12, 2008.

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