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Indian Rupee hits 11-month high against US dollar

The Indian rupee, along with other Asian currencies, strengthened against US dollar on Thursday after US Federal Reserve Chair Jerome Powell reinforced prospects of an interest rate cut later this month.

The rupee opened at 68.31 a dollar and touched a high of 68.30 — a level last seen on 2 August 2018. At 9.15 am, the currency was traded at 68.33 a dollar, up 0.36% from its previous close of 68.57.

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