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The rupee skidded by 11 paise to close at 71.24 against the US dollar on Thursday as rising oil prices and a strengthening greenback weighed on the market sentiment.
Brent crude futures, the global oil benchmark, was trading 0.09 per cent higher at $67.14 per barrel. At the interbank forex market, the domestic unit opened strong at 71.06 and rose to 70.91.
However, it could not hold on to the gains and fell to a low of 71.29 before finally ending at 71.24 – a fall of 13 paise. The rupee had closed at 71.11 against the US dollar on Wednesday.
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