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Rupee rebounds


MUMBAI: The rupee on Thursday rebounded against the U.S. currency after a fall on Wednesday due to suspected fresh dollar sales by State owned banks and closed higher at 44.64/65 a dollar.

In active trading at the interbank foreign exchange market, the rupee opened with an overnight weakness at 44.74/76 as against 44.6950/7050 on Wednesday. Thereafter, the Indian unit made a remarkable recovery and hit an intra-day high of 44.62, before closing at 44.64/65, showing a smart rise of nearly six paise.

After Wednesday's steep fall, the Reserve Bank of India (RBI) was said to have sold dollars to check a further fall in the rupee, forex dealers said. — PTI

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