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Crude staying above $68 per barrel is a damper for rupee
TIWN
TIWN
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Mumbai, March 16 (TIWN) After sustaining its winning streak, Indian Rupee is expected to slip during the upcoming week on the back of high crude oil prices along with somber macro-economic data.
Last week, the rupee recovered from 73.95 to 72.60 per USD on the passage of a $1.9 trillion stimulus package in the US. "Crude staying above $68 per barrel is a damper for rupee. A range from 72.55 to 73.25 can be expected for the coming week," Sajal Gupta, Head, Forex and Rates at Edelweiss Securities told IANS. "Nifty looks a bit wobbly on stretched valuations. Any close above 15,400 can lead to further strength in rupee but this looks less likely."
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