The rupee pared its initial losses,
but was still trading down by 3 paise at 68.08 per dollar in late morning deals
amid sustained demand for the US currency from banks and importers.
The Indian
unit resumed lower at 68.13 as against yesterday's closing level of 68.05 at
the Interbank Foreign Exchange (forex) market. The domestic unit hovered in a
range of 68.11 and 68.19 during morning deals before quoting at 68.08 at 1113
hours.
The dollar index was up by 0.08 percent at 99 against a basket of six
currencies in early trade. Globally, oil prices tumbled in Asia today after US
commercial crude stock climbed to a record level, stoking worries about a
global oversupply of the commodity.
BUY USDINR ABOVE ABOVE 68.44 TGS
68.54-68.64-68.74 STOPLOSS 68.24
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European markets finished mixed as of their recent closing prices. The CAC 40 gained 0.22% while the FTSE 100 was higher by 0.11%.
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