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Saturday, September 20, 2008

Rupee rises


Ends at 45.80/82

Rupee staged a late rally on Friday, strengthening past 46 per dollar on aggressive dollar sales by exporters and as a 5.5 percent surge in local stocks eased some fears about foreign fund outflows.

Rupee ended at 45.80/82 per dollar, 1.4 percent stronger than Thursday's close of 46.42/43 as it posted its biggest daily gain in two months. On Tuesday, it had fallen to a two-year low of 46.99