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Sharp rise in rupee against $

MUMBAI: The rupee on Wednesday recovered smartly against the U.S. dollar and closed sharply higher at 44.8650/8750 a dollar due to heavy dollar sales after the U.S. unit fell against the Japanese yen and the euro.

Fall in oil prices and smart rally in local stock prices also aided the rupee's strength against the dollar, forex dealers said.In a active trading at the interbank foreign exchange market, the Indian unit opened firm at 44.9250/9350 against Tuesday's close of 45.02/03. — PTI

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