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Rupee rallies against $

MUMBAI: Despite surrogate intervention by the central bank and pressures from a robust dollar overseas, the rupee on Tuesday rallied by four paise to close at 44.2050/2150 a dollar.

Opening weak at around 44.25/27, the rupee tumbled to 44.30/31, pulled down by dollar-buying intervention from public sector banks on behalf of the Reserve Bank of India to infuse rupee funds into the tight banking system ahead of Rs. 6,000 crore auction outflows..

PTI

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