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The Indian currency on Friday gained by 11 paise against the US dollar in the morning trade. The ruppee profited on the inflow by foreign investment funds on the hope for Indian markets to open strong compared to other global stocks.
The Indian ruppee rose up to 11 paise to quote at 48.49 a dollar over yesterday's close of 48.60 at the Interbank Foreign Exchange (forex) market.
US currency thinned against major Asian currencies in the overseas market; thereby influencing the rupee sentiment, according to the forex dealers. They reiterated that the prediction of strong opening of the markets also resulted in the hike of the rupee.
Yesterday the Sensex closed lower by 77.11 points or 0.53 per cent. On the other hand, the Asian indices gained around 1.0 per cent to 2.15 per cent following the steady fund rate of the Federal Reserve. PTI, The Times of India
June 26, 2009
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