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Dealers said euro's gains against the US dollar overseas and a higher opening in the equity market supported the rupee.

 
 
S&P had last revised India's rating in 2007 and had given a sovereign rating of 'BBB-/stable', which is the lowest investment grade rating.
The rupee on Monday recovered most of its early losses but still ended 3 paise down at 51.14/15 against the US currency due to late dollar selling by exporters.
The central bank is scheduled to announce the annual monetary policy review for 2012-13 on April 17.
 
 
The India Meteorological Department (IMD) has said shocks were felt along the eastern part of India and a tsunami alert had been issued along coast.
Dealers say besides increased foreign funds inflows, gains in euro and Asian currencies against the US currency in the overseas market supported the rupee.
The government has forced striking jewellers to backtrack on their initial demands, now only seeking roll back of the excise duty on unbranded jewellery.
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