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Rupee rallies
MUMBAI:
The rupee on Tuesday rallied against the U.S. currency on strong bunched up dollar supplies. In generally quiet and range-bound trading at the interbank foreign exchange market, the rupee closed at 43.7625/7725 a dollar, steeply higher from last Friday's close of 43.8225/8300. The forex market remained closed on Monday due to Ram Navami. The dollar tumbled to two-week low against the euro due to a possible slowdown in the U.S. economic recovery.
Heaped-up dollar supplies from the long holiday weekend on the back of a weak dollar overseas spurred the rupee to a smart rally.
— PTI
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