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Rupee Recovers Slightly To End At 81.58 Against US Dollar

On the domestic front, the focus is on RBI policy statement due on Friday

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The Indian rupee recovered marginally on Tuesday as it appreciated 0.04 paise from its lowest ever close of 81.62 in the previous session and settled at 81.58 against the US Dollar.

Bloomberg data showed the local currency opened at 81.48 and traded between 81.30 and 81.64 during the day.

On the domestic front, the focus is on RBI policy statement due on Friday.

The dollar index recovered slightly to 113.72 from Monday’s 114.58, the highest since May 2002.

Recovery was also seen in the British Pound as it appreciated 4.6 per cent to USD 1.08 from the record low of USD 1.03 on Monday. The collapse in the previous session was due to massive energy subsidies and the government’s recent tax cut measures.

The Euro, too, staged a recovery and was up 0.24 per cent at $0.9629 after hitting a 20-year low in the previous session.

Brent crude futures, the global oil benchmark, advanced 1.36 percent to USD 85.20 per barrel.



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