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Rupee falls as oil cos buy dollars

Strong domestic equities cap losses

<a href="http://www.shutterstock.com/pic-145704104/stock-photo-indian-currency-rupees-and-coins.html?src=p5N32CFr8-mqwY5wKad6IA-1-63" target="_blank"> Rupee image </a> via Shutterstock.com
Reuters
Last Updated : Jun 02 2014 | 2:50 PM IST
The rupee is trading at 59.1350/1400 versus its previous close of 59.10/11, as large state-owned banks are spotted buying dollars for oil companies but broader falls are seen capped due to strength in local equities.
 
Local shares are stronger due to gains in blue-chips such as Larsen & Toubro after earnings, while financial stocks extended gains a day ahead of the central bank's policy review.
 
The pair seen in a range of 59.10 to 59.20 until close.

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First Published: Jun 02 2014 | 2:46 PM IST

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