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Dollar closes at US72.7 cents
7-October-08
Written by AAP

The Australian dollar closed local trading at US72.7 cents today as fears of global financial meltdown pushed the currency lower, despite the market receiving a small bounce from a surprisingly large rate cut by the central bank.

The Australian dollar fell 2.35 US cents, continuing its steep decline after falling 3.05 US cents yesterday.

At 1700 AEDT, the Australian dollar was trading at $US0.7268/75, down from yesterday's close of $US0.7495/98.

It was the local currency's lowest close since April 2006.

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