The rupee appreciated by 5 paise to 69.6600 and throughout the day traded in the range of 69.9175 and 69.6075 against the US dollar ahead of the RBI’s second round of dollar-rupee swap auctions. The currency was also buoyed on reports that India has lined up alternate sources to make up for likely shortfall in crude supplies. Besides, a positive start of the equity markets influenced recovery of the rupee. However, a strong US dollar against major global currencies capped gains of the domestic unit.
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