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This is an archive article published on October 9, 2007

Re up despite RBI role

Despite the central bank intervention, the Indian rupee ended stronger on Monday as investors expect fresh capital inflows in the coming days.

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Despite the central bank intervention, the Indian rupee ended stronger on Monday as investors expect fresh capital inflows in the coming days.

The rupee ended at 39.455/460 per dollar, stronger than Friday’s finish of 39.48/49. It rose to a high of 39.38 in early deals, just shy of last week’s peak of 39.26, which was its strongest since March 1998. “Things were quiet today — after the move in the morning, things were just about steady,” a dealer with foreign bank said.

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