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Reliance Securities Report
The Indian rupee appreciated against the U.S. dollar supported by foreign fund inflows into the domestic equity and debt markets.
However, public sector undertakings’ dollar purchases, rumoured to be on behalf of the central bank, trimmed some of the gains.
The rupee ended at 74.20 to the dollar compared with 74.46 in the previous session. The rupee hit a one-week high of 74.09 earlier in the session.
Meanwhile, Asian currencies were broadly stronger against the U.S. dollar this Wednesday and lent support.
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