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On Thursday, the rupee rebounded by 52 paise to close at 70.72 against the US dollar as sentiments revived on signs of de-escalation of tensions between India and Pakistan.
The rupee had declined by 17 paise to close at 71.24 against the dollar on Wednesday amid a flare-up of tensions between India and Pakistan.
The rupee depreciated by 25 paise to 71.36 against the US dollar in early trade on Wednesday amid strengthening of the American currency and rising crude prices. Forex traders said strengthening of the US dollar against some currencies overseas and sustained foreign fund outflows weighed on the local unit.
Rupee stuck up at 71.59, approximately by increase of 42 paise.
In the wake of turbulence in state election environment, another trouble has been lined up for Indian economy as the rupee continues to fall by 110 paise in early trade Tuesday but still ended 53 paise lower at 71.85 against the US dollar following RBI Governor Urjit Patel's shock exit coupled with the loss of the ruling BJP in key state elections.
Analysis by economists suggest that Indian rupee is soon to face a downward slope after a decent trajectory of recovery.
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