A day after hitting the 44-mark in nearly 17 months against the greenback, the Indian rupee on Wednesday gained 11 paise to close at 43.74/75 on dollar selling by banks.Foreign exchange dealers said the Reserve Bank of India (RBI) heavily sold dollars when the rupee touched the day''s low of 43.93 in late afternoon trade.
The rupee had fallen by about 1.0 per cent in the last two days on hectic dollar purchases by oil companies to meet their month-end payment requirements. Yesterday, the domestic currency touched the 44-mark during intra-day but closed at 43.85/86.Earlier in the day, the rupee traded in a range of 43.6550 and 43.9300 during the day on alternate bouts of dollar buying and selling.The rupee attempted a smart rally at 43.6550 but ran out of steam at the fag end of session in line with weak trends on equity markets. The benchmark Sensex closed the day lower by 185 points
The rupee had fallen by about 1.0 per cent in the last two days on hectic dollar purchases by oil companies to meet their month-end payment requirements. Yesterday, the domestic currency touched the 44-mark during intra-day but closed at 43.85/86.Earlier in the day, the rupee traded in a range of 43.6550 and 43.9300 during the day on alternate bouts of dollar buying and selling.The rupee attempted a smart rally at 43.6550 but ran out of steam at the fag end of session in line with weak trends on equity markets. The benchmark Sensex closed the day lower by 185 points
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