Rupee recovers 9 paise in early trade
After two days of losses, the rupee on Tuesday recovered by 9 paise to 60.11 against the U.S. dollar in early trade at the Interbank Foreign Exchange market on increased selling of the American currency by exporters amidst fall in global crude oil prices.
Besides, strengthening of the euro and yen against the dollar in overseas market and a higher opening in the domestic equity market also supported the rupee, forex dealers said.
The rupee had shed 2 paise to close lower at 60.20 against the dollar in Monday’s trade on weak local equities and import-driven demand for the American currency. Meanwhile, the benchmark BSE Sensex rose by 154.82 points, or 0.62 per cent, at 25,186.14 in early trade on Tuesday.