Indian rupee recovers 13 paise against dollar in early trade

May 22 2014, 09:53 IST
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Rupee had lost 14 paise to end at 58.77 against the US dollar on Wednesday. Rupee had lost 14 paise to end at 58.77 against the US dollar on Wednesday.
SummaryThe rupee had lost 14 paise to end at 58.77 against the dollar yesterday.

The rupee today recovered by 13 paise to 58.64 against the dollar in early trade at the Interbank Foreign Exchange market on fresh selling of dollars by exporters and banks.

A higher opening in the domestic equity market also supported the rupee but dollar's gain against other currencies overseas limited the rise of domestic unit, forex dealers said.

The rupee had lost 14 paise to end at 58.77 against the dollar yesterday on sustained demand for the US currency from importers amidst negative local equities.

Meanwhile, the benchmark BSE Sensex rebounded by 125.37 points, or 0.52 per cent, to 24,323.39 in early trade today.

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