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Rupee recovers

MUMBAI: The rupee on Friday rallied against the U.S. currency on the back of renewed foreign portfolio investment inflows amid a retreating dollar overseas with the outlook positive due to sliding crude oil prices.

In upbeat mood at the interbank foreign exchange market, the rupee closed at 44.1950/2050 a dollar, a 5-1/2 paise recovery from Thursday's close of 44.25/26 after a strong start at 44.22/24. The rupee had declined by 14 paise in the last two sessions, pulled down by sustained dollar demand amid a broader firm dollar overseas. — PTI

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