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Monday August 3, 12:24 PM
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Source: Financial Express
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Rupee hits 1-month high of 47.80 per dollar
The Indian rupee rose to a one-month peak on Monday, tracking the dollar's losses versus majors overseas, but dealers said they would watch for dollar buying intervention by state banks.
At 9:03 a.m., the partially convertible rupee was at 47.80/83 per dollar, its strongest since July 2 and above its Friday's close of 47.93/95.
The dollar fell broadly on Monday and hit its lowest point this year against a basket of currencies after higher oil prices, steady global stock markets and US GDP data boosted investments in riskier assets.
