The Indian rupee recorded its highest close in six sessions on Wednesday, helped by data that suggested foreign investors were returning to India after pulling back last month when political concerns weighed heavily.
Sentiment was also upbeat in anticipation of positive comments from the new finance minister, P. Chidambaram, who arrived in Bombay on Wednesday to meet with leaders from the financial community.
The rupee closed at 45.3750/3850 per dollar, above Tuesday's close of 45.4100/4300. Traders said the central bank may have intervened through state-run banks, preventing a further appreciation.
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