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Rupee gains

MUMBAI: The Indian rupee ended four paisa up at 39.5150/5250 against the dollar on Wedneday.

It closed at 39.5250 on Tuesday.

In active trading at the interbank foreign exchange market, the rupee opened sharply lower at 39.60/61 and moved in wide range of 39.51 and 39.69 a dollar before concluding at 39.5150/5250.

Forex dealers attributed the initial sharp slide in rupee to fears of U.S. recession which impacted negatively on the rupee.

Dealers abstained from the forex market, helping the rupee to recover from its initial losses. — PTI

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