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The rupee recovered by 8 paise to close at 70.79 against the US dollar on Tuesday on increased selling of the greenback by exporters and softening crude oil prices.
At the interbank forex market, the rupee opened lower at 70.91 and lost further ground to hit a low of 71.02 on a stronger dollar, strengthening US yields and worries about escalation in US-China trade war.
The local unit, however, pared the initial losses and finally settled the day on a higher note at 70.79 to the US dollar, up 8 paise. On Monday, the rupee fell by 18 paise to close at 70.87 against the US dollar.
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