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At 9:04 a.m., the partially convertible rupee was at 48.40 per dollar, compared with Tuesday's close of 48.04/06.
The overnight cash rate was at 9.75/10.00 per cent, higher than the previous close of 8.75/9.0 per cent. Dealers expect cash conditions to tighten if the central bank were to sell dollars to check the rupee's fall.


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