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The rupee closed at 86.80 against the greenback as compared to the previous closing of 87.01, gaining for the three consecutive trading days in a row.
However, the concerns over a weakening currency are still not over yet.
“This is a temporary correction. The currency may come under pressure again till there is dollar inflows on a sustained basis,” currency risk management advisor KN Dey said.
On Monday, the rupee saw the intra-day peak at 86.7625, its highest since February 24.
Dealers said that the central bank perhaps bought dollars at this level, a step to rebuild forex reserves.
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https://economictimes.indiatimes.com/markets/forex/rupee-ends-stronger-for-third-day-in-a-row-closes-at-86-80-vs-us-dollar/articleshow/119122301.cms
