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Rupee Hits Six Straight Sessions of Gains Amid Foreign Inflows

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The Indian rupee strengthened against the US dollar on Friday, closing at 94.49 (provisional), up by 2 paise from its previous close.

This is the sixth straight session of gains for the rupee, supported by optimism over rising foreign inflows and a rise in risk appetite.

Forex traders believe that robust foreign capital inflows and active RBI intervention will help strengthen the rupee further.

However, elevated crude oil prices and any fresh escalation of tensions between the US and Iran may cap sharp upside gains.

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