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Rupee recovers from record low to settle 8 paise higher at 86.62 against US dollar
MUMBAI: The rupee rebounded from its lowest-ever level and settled 8 paise higher at 86.62 (provisional) against the US dollar on Tuesday as the American currency retreated from record high.
Some recovery in domestic equity markets after the release of macroeconomic numbers also supported the Indian currency even though it remained under pressure due to elevated crude oil prices and continuous outflow of foreign funds.
At the interbank foreign exchange, the rupee opened at 86.57 and touched the intra-day high of 86.45 before closing for the day at 86.62 (provisional) against the greenback, registering a gain of 8 paise from its previous close.
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