The Indian rupee that spiked up against the U.S. dollar in late afternoon deals on Wednesday erased its gains shortly thereafter.
The rupee that strengthened to a 7-week high of 54.175 against the greenback eased and is now trading at 54.555. The greenback-rupee pair ended yesterday's trading at 54.365.
The rupee climbed after Bloomberg-UTV reported the government may remove the withholding tax on bonds for foreign investors, without citing sources.
by RTT Staff Writer
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