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Rupee shade higher
MUMBAI:
The rupee on Tuesday ended a notch higher against the U.S. currency after healthy trade and foreign institutional investment inflows helped to overcome early pressures due to corporate dollar demand amid a resurgent dollar overseas in moderately active trading at the interbank foreign exchange market.
Closing at 43.5400/5450 a dollar, a shade better than Monday's finish of 43.5450/5500 and a sharp rally from the low of 43.56/57 struck in intraday deals, the rupee, however, opened on a positive note at 43.53/54, dealers said. It declined by three paise yesterday due to dollar demand from oil corporates amid rising crude oil prices.
World crude oil prices slipped to $57.20 a barrel in Asian trade, as adequate supplies blunted hurricane effects.
Traders expect the rupee to move in a narrow range on Wednesday. — PTI
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