The rupee on Friday closed 10 paise higher at 65 against the US dollar on fresh selling of greenback by banks.
The rupee on Friday snapped its two-day gaining streak against the US dollar.
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Rupee rebounds 26 paise against dollar; snaps 2-day losses
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The rupee has lost 32 paise, or 0.50 per cent, in five trading days
The rupee weakened even as the dollar fell against major global currencies
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The rupee ended marginally lower by three paise at 66.36 against the US dollar.
The rupee had lost 27 paise to close at more than 5-week low.
However, the hefty initial gains of the rupee, which had jumped to 61.05 intra-day, were substantially erased on month-end demand for US dollars from private oil firms and some defence-related purchases, amid fall in domestic stocks.
The rupee ended the day stronger against the dollar.
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The rupee had dropped by 18 paise to end at 66.40
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Rupee gained on increased selling of the US currency by banks and exporters
Oil edged up on Tuesday, steadying after a 5 per cent plunge in the previous session that saw prices touch fresh 5-1/2-year lows in an oversupplied market.
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RIL, as well as its partner Pioneer Natural Resources Co, are seeking a buyer for their stakes in Eagle Ford Midstream venture as they focus on shale oil production.
The domestic currency had gained by 80 paise, or 1.19 per cent, in previous five trading days.
The Indian rupee resumed sharply lower at 66.65 per dollar against last Friday's level of 66.48.
RBI fixed the reference rate for the dollar at 66.2930 and euro at 74.8978.
The domestic currency tumbled by 45 paise or 0.68 per cent in two days.
Both crude benchmarks are now down around 20 per cent since their last peak in June
Weakness of dollar in the overseas market also boosted the rupee value.
The trading range for the Spot USD/INR pair is expected to be within 66.20 to 67.00.
Profit-booking and selling pressure on below-normal monsoon forecast, marred sentiments, traders said.
Rupee is under pressure against the dollar say currency watchers.
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The rupee had jumped by 164 paise or 2.39 per cent in previous six trading days.
On Friday, the rupee had gained 9 paise to close at a fresh one-week high of 67.08.
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