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Rupee inches higher; exporters seen selling

The rupee edged up to 54.88/89 versus its previous close of 54.90/91 on exporter dollar sales. Traders said corporate dollar selling of up to $250 million earlier in the session pushed the pair above the 55 level after it hit a near two-month low of 55.15 in opening deals. Traders said any dip in the pair will, however, be seen as an opportunity to buy the dollar, keeping the downward pressure on the pair. Weakness in the euro and domestic shares also likely to push down the pair.