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Indian rupee breaks six-day winning streak on state banks' dollar bids
MUMBAI: The Indian rupee snapped a six-session winning run on Monday, amid thin trading volumes, as dollar bids from state-run lenders outweighed the recent positive momentum. Indian foreign exchange markets will be closed on Tuesday for a local holiday. The Indian rupee hit a six-month high of 93.69 per dollar, extending last week’s rally of more than 1% but closed slightly lower at 93.9275, from the previous close at 93.9050. Some traders said state-run banks’ dollar purchases could be on behalf of the central bank, whose recent measures have helped address the persistent supply-demand imbal...
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