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Rupee steady
MUMBAI: The Indian rupee on Tuesday ended barely changed at 39.96/97 against the dollar after moving in a narrow range as the Reserve Bank intervened in a bid to contain the local currency’s surge amid a strong equity market. Dealers said the RBI bought the greenback through public sector banks during the first half of the trading session.
The domestic unit was trapped in a range of 39.94 and 39.99 during the day after resuming flat at 39.96/98 a dollar. It had closed at 39.95/96 on Friday. Despite high inflation rate, the local currency failed to spark a rally as traders remained cautious in the light of continued apprehensions about the central bank’s role ahead of its quarterly review of monetary policy at the month-end. — PTI
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