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Indian rupee rises as oil remains below $119

Indian rupee rises as oil remains below $119
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First Published: Thu, Aug 07 2008. 10 35 AM IST
Updated: Thu, Aug 07 2008. 10 35 AM IST
Reuters
Mumbai: The Indian rupee rose in early trade on Thursday, as oil remained below $119 a barrel, calming expectations of a widening trade deficit.
At 9:10 a.m, the partially convertible rupee traded at 41.98/99 per dollar, higher than 42.08/09 per dollar at close on Wednesday, when it had risen to as much as 41.91 in intra-day trade, a level last seen on 24 July.
Oil, India’s biggest import, recovered from a three-month low, to trade near $119 a barrel on Thursday.
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First Published: Thu, Aug 07 2008. 10 35 AM IST
More Topics: Markets | India | Rupee | Dollar | Exchange Rate |