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Our Bureau

Mumbai, Jan. 12

The rupee strengthened against the dollar by 12 paise on Friday following good FII inflows into the stock markets, dealer said. The rupee opened at 44.60, touched an intra-day low of 44.62, to finally close at 44.43, against previous close of 44.55/56 on Thursday. "There was some amount of oil-related buying, which caused the rupee to touch 44.60 levels," said a dealer at a private bank.

The pound strengthened against the dollar following the rate hike by Bank of England. Dealers said the rupee is expected to touch 44.30 levels, next week. The six-month forward premia closed at 3.30 per cent (3.28 per cent) and the one-year closed at 2.89 per cent (2.83 per cent).

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