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Our Bureau

Mumbai, Jan. 17

The rupee gained against the greenback on Wednesday as corporates sold dollars in the forex market.

The currency opened at 44.28/30 and stayed in range. Reports of a major corporate selling $200 million in the market aided the rupee's spurt during the day, said a dealer. The currency touched an intra-day high of 44.18 and finally closed at 44.19/20, against Tuesday's close at 44.27/28. "There were good dollar inflows. The rupee could appreciate beyond 44.15, provided the central bank does not intervene," said a dealer at a private bank. In the forwards market, the six-month closed at 3.75 per cent (3.64 per cent) and the 12-month ended at 3.16 per cent (3.10 per cent).

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