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Rupee seen under pressure from oil prices
May, 31st 2008

The rupee may ease on Thursday after global oil prices climbed back over $130 a barrel, keeping concerns of a higher crude import bill and a widening trade deficit at the forefront of traders minds.

Oil, India's biggest import, traded above $130 a barrel on Thursday, after hitting a low near $126 in the previous session. Refiners are the biggest buyers of dollars, with demand tending to peak towards the end of each month.

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