The rupee bounced back from early losses to end at a fresh two-week high of 68.43, up by another 11 paise against the US dollar, even as the RBI hiked repo rate by 25 basis points today.

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Earlier, the Indian unit opened flat at 68.55 against overnight close of 68.54 at the interbank foreign exchange market ahead of the monetary policy.

It weakened further to hit a low of 68.60 in early trade before a trend reversal in reaction to RBI policy announcement.

The rupee finally managed to end at the day’s high at 68.43, revealing a rise of 11 paise, or 0.16 per cent. this is the highest level since July 17 when the rupee had closed at 68.45.

Yesterday, the rupee had gained 13 paise.

 

 

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