Wednesday, Dec 10, 2003
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The Indian unit started the day distinctly firm at 45.51/53 a dollar and after moving in a range of 45.5100-45.5375, closed at 45.5275/5375, smartly firmer than the previous close of 45.56/57 per dollar. According to dealers, the main reason for the smart rise in rupee was continued inflow of foreign institutional funds. However, a sharp fall in dollar against other world currencies also gave the Indian currency a lift.
The Reserve Bank of India fixed the reference rate for the dollar at Rs. 45.54.
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