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Rupee gains most in a week; steps by new RBI chief aid

Reuters
Sep 05, 2013 at 06:26pm IST

Mumbai: The rupee gained its most in a week on Thursday after new Reserve Bank of India (RBI) chief Raghuram Rajan unveiled a spate of measures late on Wednesday to attract more inflows, including offering a concessional forex swap rate to banks for attracting deposits from overseas Indians.

The rupee gained 1.6 per cent to close at 66.01/02, versus 67.065/075 on Wednesday close, a second day of gains and its biggest daily percentage gain since August 29. It rose to an intraday high of 65.53.

Dealers cited corporate outflows from a large private petrochem company and a gas utility, which led the rupee to lose some gains later in the session.

Rupee gains most in a week; steps by new RBI chief aid

The rupee gained 1.6 per cent to close at 66.01/02, versus 67.065/075 on Wednesday close.

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