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The rupee on Thursday slumped 39 paise to close at more than six-week low of 70.25 against the US dollar due to rising crude oil prices and a late sell-off in domestic equity markets.
At the Interbank Foreign Exchange, the rupee opened sharply lower at 70.06 and fell further to the day’s low of 70.27 as crude oil prices breached the $ 75 per barrel mark for the first time this year.
The domestic currency finally settled down by 39 paise or 0.56 per cent at 70.25 per dollar, the lowest closing level since March 6. The rupee on Wednesday had declined 24 paise to close at 69.86.
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