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The rupee strengthened to 63.63 against the US dollar on the first trading day of 2018 on the back of increased selling of the American currency by banks and exporters.
The domestic unit opened a tad strong at 63.85 at the Interbank Foreign Exchange market today. It hovered in a range of 63.87 and 63.63 before quoting at 63.68, up 19 paise at 4.40 pm local time.
The rupee had appreciated 21 paise to end at a fresh four-month high of 63.87 against the greenback on Friday. Meanwhile, the benchmark BSE Sensex today dropped by 244 points, its biggest single-day fall in the past one month, to close below the key 34,000-mark on the first trading day of 2018 after a late sell-off in auto, banking and IT stocks.
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