The Indian rupee gained on Wednesday as the central bank sold dollars for a second straight session after month-end demand for the US unit from oil firms threatened to push the rupee above 44 per dollar.
The partially convertible rupee ended at 43.71/72 per dollar, 0.3 percent stronger than 43.84/85 at close on Tuesday when it hit a 17-month low of 44.26 during trade. "The rupee opened stronger but went down towards 43.92 due to month-end dollar demand from importers. Then state-run banks came in and brought it up to 43.70 levels," said L. Subramanian, chief dealer with ICICI Bank in Mumbai.
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