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The strengthening spree of the rupee continued in afternoon trades due to dollar sale by exporters. However, month-end dollar demand is approaching, which may keep the rupee under pressure.
At 12:05pm, the rupee was trading at Rs 61.55 compared with previous close of Rs 61.85 per dollar on Tuesday.
On Wednesday, the market was closed for Bakri Eid.
The Republican and Democratic leaders of the US Senate have finally struck a cross-party deal in a bid to end a partial government shutdown and raise the US debt limit. The street took this as a positive move as they believed this will help to attract dollar flows into India.
