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of <h1>Currency Gains: Rupee Climbs 16 Paise as Dollar Weakens, Oil Prices Drop, and Forex Markets Respond Positively</h1> The Indian rupee strengthened by 16 paise to 85.29 against the US dollar due to a weak greenback and declining crude oil prices. Forex traders noted positive sentiment from lower US Treasury yields and anticipated currency movements. Geopolitical tensions following a terror attack and diplomatic actions with a neighboring country influenced market sentiment. Foreign institutional investors showed net buying in equities, supporting overall market dynamics.
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