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The rupee ended higher at 55.43 against the dollar on heavy foreign inflows and strong euro.
“Inflows were strong, euro was strong for much of the trading session and also there was some intervention by the Reserve Bank of India,” said a dealer with a leading public sector bank.
The rupee opened at 55.56, which was higher than Friday’s close of 55.67. The local unit had swung wildly in the first half of last week and even sensed an all time low of 57.92 against the dollar.
On Friday, decision by Euro-zone leaders to support the banking system in different euro countries cheered the currency markets. Monday’s gain was third-straight gain for the domestic unit.
Intra-day the rupee rallied between an high and low of 55.43 and 55.92 respectively.
>satyanarayan.iyer@thehindu.co.in
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