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Wednesday, October 08, 2008

Rupee bounces back


Ends at 47.99/48.01

Rupee erased most of its losses on Wednesday, springing back from a more than six year low, after central banks around the world cut key lending rates in a coordinated move to shore up the global economy.

Rupee ended at 47.99/48.01 per dollar, off a high of 47.85 and 0.15 percent weaker than 47.915/930 at close on Tuesday.