The rupee failed to maintain initial gains against the US dollar and was down 16 paise at 55.56 in the late morning trade on fresh demand for the American currency from banks.
The rupee resumed higher at 55.33 at Interbank Foreign Exchange (Forex) market on selling of dollars by banks and exporters as the American currency weakened against euro overseas, amid a firm trend in equity market.
From: http://ping.fm/OW5Pn
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