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  • The Indian rupee managed to recover against the dollar on Wednesday, ending a three -day losing streak amid easing crude oil prices, weakness in dollar and improved domestic macro data. At the interbank foreign exchange, the rupee opened stronger at 75.29 against the dollar and registered an intraday high and low of 75.20 and 75.51 respectively so far during the day and settled for the at 75.38 provisionally. Meanwhile, the dollar is seen easing from its recent peaks but manages to hold close to a one-year high against a basket of peer currencies amid rising expectations the Federal Reserve will announce a tapering of stimulus next month, potentially following with interest rate hikes by mid-2022. The dollar index, which measures the greenback against six rivals, eased slightly to 94.271 from Tuesday, when it touched 94.563 for the first time since late September 2020.

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