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Rupee rules steady

MUMBAI: Suspected intervention by the apex bank pulled the rupee down from initial 9-year high of 40.22, but closed barely steady at 40.2750/2850 against the dollar. In fairly active trade on Tuesday, the domestic currency resumed sharply higher at 40.22/23.

But intervention by the Reserve Bank of India weighed on the rupee sentiment and it dropped to settle the day at 40.2750/2850, barely stable from overnight close of 40.28/29. — PTI

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