MUMBAI: The rupee fell to over a seven-week low on Thursday as the weakness in local equities dented confidence in the unit. At 2:05 p.m. (0835 GMT), the partially convertible rupee was at 44.94/95 per dollar, sharply down from its previous close of 44.69/70. Indian shares extended losses to 1 percent on Thursday afternoon, with financials leading the decline, tracking weak world equities.

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