Rupee up

Rupee hit its highest level in seven weeks on Wednesday on rising rate cut hopes, but demand for the greenback from oil firms and custodian banks weighed and pushed the rupee marginally down on the day.

Rupee ended at 54.21/20 per dollar versus its previous close of 54.15/16. The unit rose to as much as 53.77, its strongest since February 28.

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