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Rupee gains further

MUMBAI: Supported by sustained heavy dollar sales by banks amid sharp rally in the equity market, the rupee closed higher by 29 paise at 43.44/46 a dollar against Tuesday's close of 43.73/75.

Banks continued to wind-up long dollar positions to raise funds to tide over a cash crunch that pushed the call money rates to an intra-day trade high of 75 per cent, the highest in more than a decade, according to the dealers at the interbank foreign exchange market here.

The rupee last ended at 43.4150/4225 a dollar on August 1, 2005.

— PTI

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