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Rupee ends at five-month peak
MUMBAI,
NOV. 4.
The rupee today surged by a steep 15-1/2 paise and scaled a nearly five-month closing peak of 45.2050/2150 a dollar, buoyed by robust trade and foreign fund inflows, as the euphoria over President George W. Bush's victory is still to wear off.
In volatile trading at the interbank foreign exchange market, strong foreign institutional investment inflows sent the rupee skyrocketting to a new peak with hardly any dollar demand emanating to halt the steep climb, dealers said.
The rupee opened distinctly firm at 45.26/29 and surged to the day's peak of 45.20/21, before settling at five-month closing high of 45.2050/2150, following sustained heavy dollar sales by foreign banks, custodians for FIIs, they added.
The domestic currency shot up by 13 paise yesterday
PTI
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