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Rupee recovers initial losses

MUMBAI: Overcoming early hesitancy, the rupee on Tuesday recovered to close steady at 39.44/45 against the U.S. currency following robust capital inflows into equity markets .

In fairly active interbank foreign exchange market, the rupee resumed weak at 39.49/51 against Monday’s close of 39.45/46 and later dipped to a low of 39.58 in early trade. It, however, recovered to touch a high of 39.41 before ending the day stable at 39.44/45. A smart comeback of the rupee from the day’s lower level was due to bullish equity markets. — PTI

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