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Rupee gains against $

MUMBAI OCT. 21. Strong portfolio and trade inflows helped the rupee rally against the U.S. currency today even as renewed corporate and import dollar demand limited its gains in moderately active trading at the interbank foreign exchange market.

The domestic unit closed at 45.33/34 a dollar, a 1-1/2 paise gain from Monday's close of 45.3450/3550, but off the high of 45.27/29 touched in early deals on the back of robust foreign fund and investment inflows. It opened on a firm footing at 45.32/34.

Persistent robust portfolio and trade inflows continued to give the rupee firm underlying support but customer dollar demand ahead of the forthcoming festivals and sporadic dollar purchases by State-run banks contained the rupee's rise, dealers said.

— PTI

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