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Our Bureau

Mumbai, April 24

The rupee gained substantially on Monday as the dollar was weak against all major overseas currencies. Sustained dollar selling by foreign banks also helped the rupee to appreciate. The rupee opened at 45.08/0950 and touched 45.11 in the morning trade. However, due to constant dollar selling it gained and ended at 44.92, against Friday's close of 45.1450. Among other Asian currencies, the yen also gained against the dollar. "The dollar slipped gradually in the absence of any support. The public sector banks were not seen buying dollars," a dealer said.In the forward premia market, the six-month premium closed at 1.15 per cent (0.99 per cent), and the one-year closed at 1.16 per cent (1.05 per cent).

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