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The rupee had declined by 3 paise to close at Rs 44.70/71 against the US currency yesterday on mild dollar demand from banks and importers.
Forex dealers said the higher opening in the stock market mainly helped the rupee to recover against the American dollar in early trade after easing to Rs 44.74 in line with weakness in other Asian currencies overseas.
Meanwhile, the Bombay Stock Exchange Sensex was up by 32.64 points at 18,426.93 in opening trade today.