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The Economic Times

Rupee cushioned by central bank hand even as dollar strength dents Asia FX

ING United States RBI US Federal Reserve Sanjay Malhotra Oil Inflation

The Indian rupee bucked the weakness seen in most Asian peers on Wednesday as likely central bank intervention shielded the currency from a stronger dollar that rose as traders positioned for potential Federal Reserve rate hikes.

The currency ended the day at 94.6650 against the U.S. dollar, marginally stronger than its close at 94.7350 on ‌Tuesday.

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