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Rupee strengthens further to 46.54/$

The Indian rupee continued its firm trend against the US greenback and closed further higher by 2 paise at Rs 46.53/54 on good dollar supply by foreign funds and domestic exporters at the interbank foreign exchange market.

Intra-day report

The rupee strengthened against the US currency early on Monday on sustained exporter dollars sales and unwinding of long position by bank in moderately active trade at the inter-bank foreign exchange market.

Opening on a firm note at Rs.46.53/54 per dollar, the rupee later hardened further and is currently quoted at Rs.46.5150/5250, sharply higher from last Friday's finish of Rs 46.55/56.

Strong dollar sales from foreign funds and exporters, coupled with unwinding of long positions by banks in the absence of adequate demand from corporates and importers solidly propelled up the rupee, a dealer said.

Elsewhere, in cross currency trades, the euro was quoted at Rs 44.07/10, pound sterling at Rs 68.75 and Japanese yen (100) at Rs 39.00/02.

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