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The Indian rupee opened with 8 paise gains at 54.05 per dollar on Wednesday as against previous day's closing of 54.13 per dollar.
Himanshu Arora of Religare feels the rupee is likely to strengthen against the dollar on surging inflows.
"FM's statement to Moody's that the country's growth story is credible and is long lasting is also a positive for the rupee," he reasoned.
According to Arora, "The range for day is seen between 53.88-54.30/USD.
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