Rupee recovers 10 paise against USD in early trade
A higher opening in the equity market also supported the recovery in the rupee.
Mumbai: After a weak start, the rupee on Tuesday recovered 10 paise to 72.41 against the US dollar amid volatility in early trade on fresh selling of the US currency by exporters and banks.
The rupee, after opening lower at 72.65 against the US dollar, quickly recovered to trade 10 paise higher at 72.41 at the Interbank Foreign Exchange.
Besides, dollar-selling by exporters and banks, fall in crude prices in the global market and weakness in the dollar against some currencies overseas amid US-China trade conflict, helped the domestic currency rebound, forex dealers said.
They said a higher opening in the equity market also supported the recovery in the rupee.
The BSE benchmark Sensex recovered by 74.68 points, or 0.19 per cent, to 37,660.19 in opening trade.