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Rupee rallies smartly

MUMBAI: The rupee made a sharp turnaround against the U.S. currency on Thursday, recovering overnight losses on the back of strong foreign portfolio investment inflows amid a retreating dollar overseas.

Closing at 44.44/45 a dollar, the rupee rallied smartly from Wednesday's seven-week closing low of 44.64/65 and recouped all the 22 paise overnight losses after the dollar shed part of its gains against major global rivals, mainly the euro. — PTI

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