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The rupee recovered 29 paise from yesterday’s record low to 54.20 against dollar in the late morning trade today due to fresh selling of the American currency by banks and exporters amid firm equity market, although it lost some ground later.
The dollar weakened slightly against the rupee despite quoting higher against other currencies in the overseas market.
The rupee resumed stronger at 54.40/41 per dollar at the Interbank Foreign Exchange (Forex) market against the last closing level of 54.49/50 per dollar. It firmed up further to 54.20 per dollar before quoting at 54.32/33 per dollar at 10.15 am.
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