Rupee closes at 10-week high on strong inflows

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The currency recorded its sharpest daily gain since July 27. "The 93.80 level during September can't be ruled out as we have got certain reserves muscles now," said veteran foreign exchange consultant KN Dey.
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The overseas inflows are likely to push up the foreign reserves stock to a fresh high past $750 billion in the coming weeks, providing considerable firepower to defend the currency, DBS Bank senior economist Radhika Rao said.
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