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Mumbai, July 7

The rupee gained marginally by 10 paise against the dollar on Tuesday in a volatile market. The domestic currency opened at 48.42 and strengthened to touch an intra-day high of 48.28. It then weakened to touch an intra-day low of 48.75, before closing at 48.45, against the previous close of 48.55. The rupee opened with gains tracking the capital inflows into the equity markets, said a dealer with a public sector bank. However, the strength of the dollar against other curre ncies pushed the rupee to its day’s low. When the rupee was trading at 48.75, nationalised banks sold dollars at these levels on RBI’s behest, added the dealer. In the overseas markets, the dollar lost most of its gains and weakened against the other currencies after the European markets opened. In the forward premia market, the six-month closed unchanged at 2.47 per cent and the one-year closed lower at 2.28 per cent (2.32 per cent).

— Our Bureau

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