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Our Bureau

Mumbai, Feb. 14

The rupee gained by almost eight paise on Wednesday on good dollar supply in the market. "Banks have been seen selling dollars as they feel the CRR hike will drain out liquidity," said a dealer at a private bank.

The home currency opened at 44.20, to finally end at 44.11/12 against Tuesday's close of 44.20/21. The rupee also tracked other overseas currencies against the dollar like pound and euro. "It is likely to trade in the range of 44.05-44.20 this week," the dealer said. The six-month forward premia closed at 3.62 per cent (3.12 per cent) and the one-year at 3.26 per cent (2.92 per cent).

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