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FXstreet.com (California) - On Tuesday, the rupee saw its biggest daily gain against the greenback since the 27th day of September as the RBI boosted its benchmark rate for the 13th time since March 2010.

USD/INR is unchanged at 49.40 in the Asian afternoon with the market generally on hold ahead of the EU announcement.

"Finally, there's light at the end of a long tunnel," said Aneesh Srivastava, Mumbai-based chief investment officer at IDBI Federal Life Insurance Co. in a Bloomberg interview. "The RBI has started reacting on signs of retardation in domestic growth, global economic uncertainties and high-base effect of inflation that would kick in from December."
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