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The rupee declined by 16 paise to close at 72.01 against the US dollar onWednesday amid strengthening of the greenback and rising crude oil prices even as the equity markets staged a sharp upmove.
At the Interbank Foreign Exchange (forex) market, the local unit opened lower at 72.10 and fell further to touch the day’s low of 72.17.
The domestic currency, however, pared some losses and finally ended at 72.01 per dollar, down by 16 paise against its previous close.
On Tuesday, the Indian rupee had plunged 53 paise to 71.85 per US dollar.
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