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US Dollar eased against the Rupee at Rs 48.42/43 per dollar.
The rupee closed at 48.53/55 per dollar, compared to Friday's close of 48.44/45.
The rupee appears to have partially recovered to trade at 48.51, in line with the stock market staging a mini recovery. However dealers say that the month-end dollar demand from oil refiners is likely stem any major rise.
The rupee weakened on Monday, and was trading at 48.73 against the dollar at 12 noon, on back of a weak stock market fuelling concerns that capital outflows to India would continue.
The rupee on Monday strengthened by 26 paise against the US dollar in thin early trade following increased dollar selling by exporters and banks.
The rupee rose in thin trade early on Monday but dealers said they would closely monitor the stock market open for further cues on the direction of foreign fund flows.
Call rates slipped further to end at 5.80% on the overnight call money market here on Friday on lack of demand from borrowing banks coupled with ample liquidity in the banking system.
In light holiday trading, the dollar dipped against the euro, but edged higher against the yen and pound.
India's foreign exchange reserves rose to $254.052 billion as on Dec. 19, from $250.453 billion a week earlier, the central bank said in its weekly statistical supplement on Friday.
Rupee ended at 48.39/40 per dollar, from Wednesday's close of 48.07/08 as weakness in local stocks fueled concerns of further capital outflows. |
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