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The Economic Times

Business

Rupee logs weekly decline; traders expect losses to be capped near 96 against USD

Oil India Asia Interest Rates Middle East

The Indian rupee logged a weekly decline on Friday, hurt by expectations of higher global interest rates, while traders kept an eye on oil prices and said that central bank intervention would limit the currency's downside around 96 per dollar.

The rupee ended at 95.8750 per dollar, up modestly on the day but logged a 0.3% week-on-week fall.

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