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Rupee recovers
MUMBAI HALTING:
a three-session steep slide, the rupee rallied against the U.S. currency on Tuesday on the back of fresh trade inflows amid a mildly retreating dollar overseas even as a late round of heavy dollar short covering prevented sharp gains.
In hesitant trading at the interbank foreign exchange market, the rupee closed at 43.4875/4950 a dollar, mildly higher from yesterday's finish of 43.4975/5050, but sharply lower from the high of 43.41/42 struck in afternoon deals. It opened on a firm footing at 43.44/45 after the U.S. currency gave up part of the recent sharp gains against major global currencies. — PTI
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