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At 9:08 a.m. (0338 GMT), the partially convertible rupee was at 54.89/90 per dollar, after hitting 54.85, its strongest since Aug. 17. It had closed at 55.43/44 on Thursday.
The benchmark 10-year bond yield was at 8.11 percent, down 6 basis points on the day. The yield had dropped as low as 8.10 percent in opening deals, its lowest since July 26.