Rupee gains 11 paise on strong equities

The rupee gained 11 paise on strength in equities, following strong closings overnight in the US and European markets.

The Indian currency was trading at 52.74 to the dollar, a gain of 11 paise over Tuesday's close. Exporters were also seen selling dollars according to dealers which helped the local currency gain ground.

Today's gains were the second straight day of gains for the Indian rupee. In fact, most of the Asian currencies gained against the dollar on round buoyant sentiments in equities.

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