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Rupee ends steady

MUMBAI: The rupee on Tuesday ended steady at 39.41/42 against the U.S. currency due to lack of any direction from the New Year holiday in most of the global markets.

In a lacklustre activity at the interbank foreign exchange market, the local unit resumed slightly lower at 39.43/44 against Monday’s close of 39.41/42 due to stray buying support by some banks on behalf of their clients to meet their import requirements.

Later, it recovered to end stable at 39.41/42. Fresh capital inflows also helped the rupee to recover initial losses.

Meanwhile, strong equity markets expected more capital inflows in near future, impacting positively on the rupee sentiment, dealers said.

— PTI

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