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Staging a smart recovery, the rupee on Wednesday settled four paise higher at 65.27 against the US dollar despite plunging to a fresh two-year low in early trades amid global currency volatility.
Besides, fresh dollar selling by exporters and suspected RBI intervention through State-owned banks predominantly triggered the rupee recovery as emerging market currencies continued to flounder amid worries over the Chinese economy, forex dealers said.
The local currency also benefited from a smart rebound in local equities as well as subdued greenback overseas.
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