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Wednesday, Jun 15, 2005

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Rupee recovers against $

MUMBAI: The rupee on Tuesday recovered moderate ground against the U.S. currency due to steady trade and foreign institutional investment inflows even as the outlook remained uncertain due to rising crude oil prices amidst a relatively firm dollar overseas.

In fairly active trading at the interbank foreign exchange market, the rupee closed at 43.60/61 a dollar, a 6-1/2 paise pull-back from yesterday's ten-day closing low of 43.6650/6750. It opened on a positive note at 43.6525/6625 after the U.S. currency retreated from nine month high against the Euro. The rupee declined by 14 paise on Monday.

Steady trade and FII inflows helped the rupee rally moderately following the overnight tumble even as sentiment remained uncertain due to rising global oil prices on the back of a firm dollar overseas, dealers said.

— PTI

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