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Catching its breath after a spectacular three-day rally, the rupee surrendered some gains against the US currency and settled three paise lower at 64.08 on fresh bouts of dollar demand. The domestic currency had ended at a fresh 21-month high on Monday.
Robust capital flows into equities and debt along with subdued dollar overseas trend largely cushioned the fall, a currency trader said. The local unit had appreciated by a healthy 58 paise in the last three sessions.
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