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The rupee appreciated by 7 paise to settle at a fresh one-month high of 70.85 against the US dollar on Wednesday on the back of firm domestic equities and easing crude oil prices, extending its winning run for the sixth straight session.
Forex traders said the domestic unit gained ground ahead of the release of key macro-economic numbers on Thursday. At the interbank foreign exchange market, the rupee opened at 70.87 against the US dollar. During the day, the domestic unit fluctuated between a high of 70.74 and a low of 70.94. The local unit finally settled the day at 70.85, up 7 paise over its last close.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.11 per cent to 97.51. The rupee had settled at 70.92 against the US dollar on Tuesday. PTI
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