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Rupee recovers

MUMBAI: The rupee was on a roller-coaster on Tuesday in tune with the stock markets but ended the day with a smart recovery, reflecting the improvement in the second half of the day at bourses where sharp losses were reduced significantly on government’s assurances on liquidity. Resuming weak at 39.64/66, the Indian currency closed the day at Rs. 39.4850/4950 a dollar against its last close of 39.5550/5650. The rupee moved in a wide range of 39.45 and 39.73.

The pressure was felt on the rupee in relation to the dollar since Monday amid reports that foreign institutional investors were buying the U.S. currency after liquidating the position on the stock markets. — PTI

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