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The rupee pared its early losses and was trading at 66.14 against the American currency in late-morning deals on bouts of dollar sale from banks and importers amid stronger equities.
The rupee resumed lower at 66.45 as against overnight closing level of 66.39 at the Inter—bank Foreign Exchange (forex) market.
It slid further before bouncing back to 66.14 at 4.30 pm.
The domestic unit moved in a range of 66.45 and 66.14 during the day's deals.
Overseas, the US dollar was mostly flat against its major peers as the holiday season capped the damage after yesterday’s surge of the greenback against commodity currencies, including the Russian rouble.
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