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Rupee rises further

MUMBAI: Extending its surge against dollar for third day in a row, the rupee appreciated by 13 paise and closed at 39.78/79 on Wednesday on sale of dollar by exporters and fresh capital inflows into the equity market. It closed at Rs. 39.92 on Tuesday. Weakness in dollar overseas as well as possibility of another rate cut by the Federal Reserve also contributed to the rupee’s surge. The rupee moved in a range of 39.70 and 39.83 during the day.

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