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The Economic Times
The Economic Times
Business

Rupee soothed by intervention, surge in forward premiums tipped to cool

The Indian rupee closed modestly stronger on Friday, aided by an easing in oil prices and the dollar after a searing rally in both kept up the pressure on the local currency through the week, eliciting central bank interventions to avert sharp falls.

The rupee closed at 95.8125 per dollar, up slightly from its close at 95.9550 in the previous session. The currency was little changed on the week.

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