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The rupee declined by 9 paise to close at 70.78 against the dollar on Friday, as market participants were cautious ahead of a meeting between foreign investors and finance ministry officials regarding higher tax surcharge.
At the interbank foreign exchange, the rupee witnessed high volatility. After opening on a strong note at 70.54, the local unit touched a high of 70.44 and a low of 70.82 against the American currency.
The domestic unit finally settled down 9 paise at 70.78 against the American currency against Thursday's close of 70.69.
Brent crude futures, the global oil benchmark, climbed 1.43 per cent to$58.20 per barrel. The 10-year government bond yield was at 6.50 per cent on Friday
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