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Rupee ends higher

MUMBAI DEC. 9. The rupee lost some of the early gains against the dollar on the interbank foreign exchange market here today, but managed to close higher due to increased inflow of funds coupled with the general weakness of dollar against other major world currencies.

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.

PTI

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