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Rupee lower on oil USD demand, euro

MARKETS-INDIA-FOREX-RUPEE:Rupee lower on oil USD demand, euro

Read more on:    MARKETS | INDIA | FOREX | RUPEE
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The rupee was under pressure in early trade on Wednesday as traders expect month-end dollar demand from state-run oil refiners and a weaker euro, but losses may be kept in check by higher stocks.

At 9.07 a.m, the rupee was at 57.06/07 after opening stronger at 56.98. It ended trade at 57.02 on Tuesday, not far the record low of 57.32 hit on Friday.

 

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SBI hikes interest rate by 0.25% on deposits of 3-5 yrs

In a surprise move, country's largest bank SBI today increased interest rates on select fixed deposits by 0.25 per cent.

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