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Rupee recovers

MUMBAI: Shrugging off high crude oil prices, the rupee on Monday rallied smartly on the back of bunched up dollar supplies from the long holiday weekend amid a retreating dollar overseas in fairly active trading at the interbank foreign exchange market.

Closing at 45.12/14 a dollar, a sharp five paise gain from last Thursday's finish of 45.17/19, the rupee tested a peak of 45.07/08 in early deals amid heaped up dollar supplies from trade inflows and a weak dollar overseas. Dollar demand from oil companies due to firm crude oil prices, however, contained gains towards the close. — PTI

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