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The rupee appreciated by 2 paise to settle at 83.29 against the US dollar on Wednesday amid softening crude oil prices.
Forex traders said the local unit consolidated in a narrow range weighed down by foreign fund outflows.
At the interbank foreign exchange, the domestic unit opened at 83.29 and moved in the range of 83.22 and 83.30 against the greenback during the session.
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