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The rupee ended strong against the dollar due to the measures announced by Raghuram Rajan, the new governor in Reserve Bank of India (RBI) and dollar sale by state-run banks acting on behalf of RBI.
The rupee ended at Rs 66.12 compared with previous close of Rs 67.09 per dollar. This is the second consecutive day when the rupee strengthened against the greenback.
The rupee had opened at Rs 66.04 and during intra-day trades touched a high of Rs 65.53 and a low of Rs 66.51 per dollar.
Currency dealers expect the rupee to appreciate further tomorrow due to positive sentiments prevailing in the market. However, experts also warn that medium-term concerns on the global and domestic front still remains.
Besides that month-end dollar demand which shall start from the middle of this month will also put pressure on the rupee.
