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Rupee rallies against $

MUMBAI MARCH 21. The rupee rallied sharply against the U.S. currency today on the back of strong exporter dollar sales and liquidation of long dollar positions by banks after market sentiment improved considerably on the general belief that the ongoing war in Iraq would end quickly.

In fairly active trading at the interbank foreign exchange market, the rupee closed at 47.6700/6750, an eight paise gain from Thursday's finish of 47.75/76, after opening around 47.75/76, with dollar-sellers dominating business. — PTI

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