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Rupee moves up

MUMBAI, JAN. 9 . The Rupee continued to rise sharply against the dollar due to increased inflow along with dollar weakness in the overseas markets and shot up further by 8-1/2 paise on the interbank foreign exchange market on the last day of the week here today. With today's rally, the rupee displayed a handsome gain of over 25 paise since Monday, brokers said.

Poor dollar demand along with increased dollar supply from exporters cheered up the rupee sentiment, they said. The rupee started with overnight strength at 45.5250/5350 and continued to rise sharply due to increased dollar supply, before closing at 45.4450/4550, against the previous close of 45.5300/5400.

In London, the dollar fell to 1.2773 against the euro on Thursday from Wednesday's level of 1.2630. — PTI

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