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Rupee recovers

MUMBAI: The Indian rupee recovered all of its overnight losses against the dollar and ended higher by 12 paisa at 39.45/46 on Thursday on the back of dollar selling by exporters.

It closed at 39.57/58 on Wednesday. In active trading at the interbank foreign exchange market, the rupee opened at 39.5150/5250 a dollar.

Smart rally in global equity markets lifted the rupee further upwards to the day’s high of 39.42 per dollar in afternoon trading, dealers said.

Dollar selling by exporters and lack of any intervention by the apex bank also boosted the rupee sentiment, dealers said.

However, negative turnaround in equity markets in later part of the day pushed the rupee slightly down to settle the day at 39.45/46 a dollar, still showing a smart rise of 12 paisa over the previous close.

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