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Rupee ends higher

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MUMBAI: The rupee bounced back and closed firm against the U.S. currency on Wednesday at 45.9800/9900 due to suspected dollar selling by banks.

In an active trading at the interbank foreign exchange market here, the Indian unit started the day on a weak note at 46.0700/1000 a dollar, but later rebounded on fresh dollar selling by foreign banks and after rising to an intra-day high of 45.9600, ended at 45.9800/9900 a dollar, smartly higher than the previous close of 46.0300/0400.

The Reserve Bank of India fixed the reference rate for the dollar at Rs. 45.98.


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