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The rupee finally settled at 83.00 (provisional), unchanged from its previous close
The Indian Rupee was under some pressure and lost 22 paisa or 0.27 per cent to close at Rs 82.94 to the US Dollar.
The local unit, however, pared initial gains and finally ended the day at 81.88 (provisional), down 7 paise from its previous close.
The Indian rupee gained on softening crude oil prices and a sharp jump in India''s forex reserves, said Anuj Choudhary - Research Analyst at Sharekhan...
“We have considered the possibility of using the Indian rupees like we accept the dollar, euro and yen,” he said.
The concern, however, is the rising valuations. At high valuations some negative triggers can lead to sharp correction.
The Indian Rupee remained unchanged against the US Dollar at Rs 82.04. Dow Jones had a great week gaining on three of the five trading sessions
On Tuesday, the rupee closed at 82.60 against the US currency.