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Our Bureau

Mumbai, Jan. 16

The rupee almost ended flat against the dollar on Tuesday. The domestic currency opened at 44.25/27, but strong dollar buying by public sector banks, on behalf of oil companies, pushed the rupee to 44.34. It could not sustain at that level as there was dollar selling which strengthened rupee to 44.31, said a dealer at a private bank.

Later in the day, reports from the international rating agency, Moody's Investors Service, maintaining India's credit rating stable, eased the pressure on the rupee. The home currency ended at 44.27/28 against the previous close of 44.28 on Monday. The six-month forward premia closed at 3.64 per cent (3.36 per cent) and the one-year closed at 3.10 per cent (2.91 per cent).

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Rupee closes flat

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