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At 9:07 a.m., the partially convertible rupee was at 48.62/63 per dollar, above Friday's close of 48.67/68.
The Nikkei average was trading up 1 per cent and Hong Kong's Hang Seng rose 0.4 per cent. Nifty stock futures in Singapore were trading up nearly 0.8 per cent, pointing to a higher opening in India.
Oil paused from its decline and steadied around $40 a barrel on Monday, as hopes the United States would act swiftly to approve a economic stimulus this week outweighed demand concerns.


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