Forex dealers said a weak dollar overseas and firm local equities also supported the local currency.
The rupee resumed a bit lower at 54.78 a dollar from last close of 54.77 and hit a low of 54.96 at the Interbank Foreign Exchange market on some dollar demand from importers and initial hesistancy in local stocks.
However, a late dollar selling by exporters and weakness in dollar overseas aided the rupee to bounce back to a high of 54.59 before settling at 54.68, a gain of nine paise, or 0.16
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