The Indian rupee recovered considerably against the dollar on Wednesday after the Reserve Bank of India (RBI) hiked the key repo rate by 35 basis points. Easing crude oil prices and dollar weakness also supported the domestic unit. INR pared initial losses and settled marginally higher at 82.47 against the US dollar. At the interbank foreign exchange market, the local unit opened at 82.74 and touched an intra-day high of 82.40 and a low of 82.75 against the greenback.Powered by Commodity Insights
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