Rupee recoups 8 paise at 68.16 against US dollar

Mumbai: After yesterday's weakness, the rupee staged a mild recovery of 8 paise to 68.16 against the dollar at the forex market following fresh selling of the US currency by banks and exporters.

Forex dealers said dollar's weakness against some currencies overseas and a better trend in early trade at the domestic equity market supported the local currency.

The rupee had lost 18 paise to close at a 4-week low of 68.24 in yesterday's trade on month-end dollar demand from importers coupled with sustained foreign capital outflows.

Meanwhile, the benchmark BSE Sensex was trading higher by 38.76 points, or 0.15 per cent, to 26,249.44 in early trade.