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Our Bureau

Mumbai, March 6

The rupee recovered against the greenback on heavy dollar-selling by corporates. The domestic currency opened at 44.55/57 and touched an intra-day low of 44.59. It closed the day at 44.46/47 against Monday's close at 44.63/64.

The rupee opened strong on the recovery of stock markets across the globe. Sensex gained 282 points on Tuesday. "There was some speculative dollar-buying by corporates, which initially weakened the rupee. But all-round selling of dollars by corporates helped the domestic currency in paring losses," said a dealer at a private bank.

Forward premia inched up slightly, with the 6 month closing at 2.90 per cent (2.82 per cent) and the 12 month ended at 2.86 per cent (2.81).

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