Rupee recovers smartly; hits 55 to the dollar

The rupee was trading at 55.03 to the dollar, up 41 paise from Tuesday's close. The rupee has now been rising sharply in the past couple of days on renewed optimism and belief that there would be positive flows, particularly in equities.

The Euro too has gained strength. Meanwhile, Indian indices were trading higher once again, tracking strong global peers. Optimism was on account of belief that central banks across the globe might resort to monetary easing.

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