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Rupee snaps three-day rally; oil buying hurts
The rupee dropped on Tuesday, snapping a three-day winning streak, as strong dollar demand from oil firms to meet month-end import commitments and a pullback in domestic shares from the day's highs weighed heavily. The rupee, which had hit a record low against the dollar on Thursday, appears vulnerable for further falls, especially given fragile global risk sentiment because of the euro zone's woes.
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