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Rupee rises further
MUMBAI:
The rupee on Wednesday rose further smartly against the U.S. currency and closed at 45.7350/7450 a dollar a level not seen after May 24 on increased dollar sales by banks following further fall in crude oil prices. In active trading at the interbank foreign exchange market, the Indian unit resumed marginally lower at 45.75/76 against Tuesday's close of 45.74/76 on fresh dollar demand. Later, as both foreign and domestic banks started selling the U.S. currency, the rupee rallied smartly and closed at 45.7350/7450, smartly higher than the previous close.
Meanwhile, the Reserve Bank of India fixed the reference rate for the dollar at Rs. 45.69 and for the single European unit at Rs. 58.15. — PTI
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