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Business

December 7, 2017

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Rupee down

The rupee continued to lose grounds against the dollar on Wednesday due to persistent rise in the dollar demand from corporate sector, dealers said.
The rupee ended at 105.54/dollar as compared to the previous closing of 105.52 in the interbank currency market. Dealers said the domestic currency value is falling, as importers bought dollars from banks to cover oil payments.
Trading in the forex market was range-bound with the currency pair moving two paisas, a dealer said. The market faced a little pressure owing to oil payments to be made by the importers. The currency is expected to trade in the tight band of 105.55/60 in the coming sessions.
In the open market, the rupee rose its value due to uptick in the dollar demand. The prices of the domestic unit was quoted at 107.30/50 for buying and selling against the dollar in the kerb market.

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