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Business News/ Money / Indian rupee rises as oil remains below $119
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Indian rupee rises as oil remains below $119


Indian rupee rises as oil remains below $119

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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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Published: 07 Aug 2008, 10:35 AM IST
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