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    Rupee declines to 79.60 amid a stronger dollar

    Rupee declines to 79.60 amid a stronger dollar

    Rupee declines to 79.60 amid a stronger dollar
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    By Asmita Pant   IST (Published)

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    The rupee depreciated by 15 paise to touch 79.60 against the US dollar on Thursday amid a strong greenback overseas.

    The rupee depreciated by 15 paise to hit 79.60 against the US dollar on Thursday amid firmness in the greenback overseas. Easing crude oil prices, however, helped in containing the downside in the rupee.
    The dollar index — which measures the US dollar against a basket of currencies — climbed 0.2 percent.
    Crude oil prices fell on Thursday in a rebound from six-month lows the earlier this week, after a larger-than-expected drop in US oil and gasoline stocks.
    Brent crude futures were last down 2.3 percent at $91.5 a barrel and West Texas Intermediate (WTI) futures down 0.9 percent at $87.3 a barrel.
    One can expect the rupee to trade within a range of 78.5-80 against the dollar over the short term, said Amit Pabari, Managing Director at CR Forex.
    Indian equity benchmarks opened in the red mirroring largely negative moves across global markets.
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