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Strengthening for the second day today, the rupee gained 12 paise to 64.61 against the dollar.
Increased selling of the American currency by exporters and banks amid higher domestic equity markets were the main contributing factors for the rupee movee up.
The rupee opened at 64.56 and moved between 64.63 and 64.48 in intra-day deals.
Forex dealers said besides selling of the dollar, its weakness against other currencies after the Federal Reserve dialled down on some of the more hawkish policy expectations supported the rupee.
Further, fresh foreign fund inflows and a higher opening in the domestic equity markets added to the momentum, they added.
Yesterday, the local currency had staged a strong comeback by surging 16 paise to end at 64.73 against the US dollar.
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