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Rupee weakens; soft crude likely to limit fall

Reuters  |  MUMBAI 

(Reuters) - The rupee opened weaker on Monday Asian peers due to strong U.S. jobs data that bolstered expectations of faster rate hikes there.

The rupee was at 72.7650 to the dollar, down from its previous close of 72.44 when it had gained the most in 5 years an ease in trade tensions between the U.S. and and

However, the rupee is unlikely to fall sharply during the day as it is expected to take comfort from soft crude prices.

fell on Monday as the start to U.S. sanctions against Iran's fuel exports was softened by waivers that will allow some countries to still import Iranian crude, at least temporarily.

(Reporting by Suvashree Dey Choudhury; Editing by Rashmi Aich)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 09:53 IST
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