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Rupee in Friday's trade opened higher by 16 paise at 70.53 versus previous closing of 70.69 per US dollar.
On Thursday, rupee ended with gains after a reprieve from reports that the government would remove surcharge tax on FPIs.
Oil in the international price has gained by more than 1$ per barrel on expectations that lower prices may lead to production cut.
Yield on 10-year government bonds was trading at 6.40%
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