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Rupee Recovered From Its Record Low By Rising 18 Paise

The rupee recovered from it record low by rising 18 paise to 68.61 against the US dollar in early trade today on fresh selling of the American currency by banks & exporters.

Yesterday the Indian currency had breached the 69-mark but covered lost ground to finally closed at an all-time low of 68.79 with a fall of 18 paise against the US dollar due to multiple headwinds like weak global cues & concerns related to inflation and fiscal slippage.

Forex dealers said that selling of dollars by banks & exporters today made the greenback weak against some currencies overseas, which supported the rupee. The higher opening of the domestic equity market also propped up the rupee.

On Friday the BSE benchmark Sensex rebounded by 142.86 points or 0.40% to 35,180.50 in early trade.

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