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Currency watch: Rupee rises 16 paise to 85.76 against dollar; crude oil slide & weak greenback lift sentiment

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The rupee strengthened to 85.76 against the US dollar, buoyed by a weaker dollar and lower crude oil prices. Gains were capped by persistent foreign fund outflows and uncertainty surrounding India-US trade talks. India's merchandise exports remained steady, while the trade deficit narrowed, and domestic equities closed in the green with FIIs turning net buyers.
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