Rupee trades lower at 55.60 to the dollar

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The rupee was trading lower at 55.60, down 10 paise over Friday's close. The rupee may continue to be under pressure, following month end demands from oil importers.

Also, Brent crude oil has touched $115 per barrel and this may continue to add to the pressure on the rupee in the next few weeks, if crude continues to remain at elevated levels.

The pressure will be exerted as foreign fund flows into the equity markets also seems to be waning.

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