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Rupee rises after India clears NSG hurdle

Rupee rises after India clears NSG hurdle
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First Published: Mon, Sep 08 2008. 09 14 AM IST
Updated: Mon, Sep 08 2008. 09 14 AM IST
Mumbai: The Indian rupee rose 0.67% in opening deals on Monday in anticipation of capital flows into the stock market after India overcame a hurdle for a civilian nuclear deal with the United States.
The 45-member Nuclear Suppliers Group approved a US proposal on Saturday to lift a global ban on nuclear trade with India, a move that could eventually lead to large foreign investment in the domestic nuclear industry.
At 9:02 am, the partially convertible rupee was at Rs44.35 per dollar, compared with Rs44.645/655 at close on Friday, 5 September, when it fell to Rs44.75 during trade, a level it last traded on 21 December, 2006.
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First Published: Mon, Sep 08 2008. 09 14 AM IST