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Our Bureau

Mumbai, Nov. 23

Strong FII inflows into the domestic equity markets strengthened the rupee by almost 11 paise on Thursday. The currency opened at 44.73 and closed at 44.69, against the previous close of 44.80 on Tuesday. The dollar has weakened against the major global currencies which helped the rupee to gain. "There was a statement by the White House hinting at a slowdown in the US economy," said a dealer at a private bank.

Dealers said the rupee is expected to touch 44.60 levels shortly. In forwards, the six-month premium closed at 1.94 per cent (1.97 per cent) and the one-year closed at 1.80 per cent (1.82 per cent).

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