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Rupee gains after RBI raises repo rate
June, 12th 2008

The rupee edged up early on Thursday after the Reserve Bank of India raised repo rate by 25 basis points late on Wednesday, but dealers said the gains may be short-lived due to a spike in oil prices and weaker Asian shares.

At 9 am, the partially convertible rupee was at 42.7775/7800 per dollar, compared with Wednesday's close of 42.86/87. It had hit a 13-month low of 43.21 on May 22.


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