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The rupee strengthened to 63.89 on fresh dollar selling by banks and exporters. However, a strong dollar overseas weighed on the rupee sentiment.
The domestic unit opened weak by 4 paise at 64.05 at the Interbank Foreign Exchange market today. It hovered in a range of 64.06 and 63.89 before quoting at 63.89, up 12 paise at 4.45 pm local time.
The US dollar advanced against the euro and yen after strong US growth data fuelled speculations that the Federal Reserve could consider hiking interest rate for a third time this year.
Yesterday, the rupee had ended on a flat note at 64.01 against the US dollar.
Meanwhile, the 30-share BSE index Sensex ended higher by 84.03 points or 0.27 per cent at 31,730.49.
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