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The rupee was trading strong by 13 paise at 63.51 against the dollar in the evening session on continued dollar selling amid a rally in the domestic equity market.
The rupee edged higher marginally by 5 paise to 63.59 against the US dollar in early trade. It further strengthened to 63.50 before being quoted at 63.51 at 5.00 pm local time. The domestic unit hovered in the range of 63.50 and 63.63 in the evening trade.
Forex dealers said that besides sustained selling, dollar’s weakness against other currencies overseas, coupled with a firm domestic equity market, supported the rupee at the Interbank Foreign Exchange.
The local currency had surged 18 paise to 63.64 in yesterday’s trade on fresh selling of the dollar amid the latter’s weakness in overseas markets.
Meanwhile, the benchmark BSE Sensex ended higher by 148.15 points or 0.53 per cent at 27,957.50.
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