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Rupee stages smart recovery

MUMBAI: The rupee staged a smart pull-back rally on Thursday, notching up remarkable gain of over 20 paise to close at 46.7850/7950 a dollar, propelled by dollar's weakness overseas and easing oil prices.

The rupee's bounce was also credited to a sharp rebound of 346 points in the equity market.

The rupee opened strong at 46.80/83 against the overnight close of 46.99/47.00.

The Federal Reserve expected the U.S. inflation to moderate and core inflation to decline in the coming quarters.

— PTI

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