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Rupee recovers against $
MUMBAI:
The rupee on Tuesday made a smart pull-back rally against the U.S. dollar after a global weakness in dollar along with sufficient foreign institutional investment inflows into the system and closed sharply firm at 46.1850/1950 a dollar.
In active trading at the interbank foreign exchange market, the Indian unit opened firm at 46.27/30 a dollar against yesterday's 15-month low of 46.3275/3350 and continued to firm up on good dollar inflow and closed at 46.1850/1950.
Fall in world crude oil prices, drop in dollar rates against other major world currencies and heavy FII inflows were the encouraging factors which helped the rupee recover smartly, dealers said. On December 2, the FIIs pumped in Rs. 514.7 crore taking the total inflow during the week to Rs. 1513.80 crore.
Crude oil fell to $59.76 a barrel from the previous level of $59.91, they added.
PTI
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