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The rupee dived 17 paise to close at 71.24 against the US dollar on Wednesday amid a flare up of tensions between India and Pakistan.
Firming crude oil prices, month-end dollar demand from oil importers and a weak sentiment at domestic equity markets weighed on the rupee, analysts said.
At the Interbank Foreign Exchange (forex) market, the domestic unit opened almost flat at 71.08. It then shuttled between a low of 71.49 and a peak of 70.94, before finally ending at 71.24, showing a loss of 17 paise.
The domestic currency had ended 10 paise lower at 71.07 to the US dollar on Tuesday.
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