The rupee recovered 7 paise to 68.65 against the U.S. dollar in early trade on Friday at the Interbank Foreign Exchange market on selling of the U.S. currency by exporters and banks amid a higher opening in the domestic equity market.Besides, weakness in the dollar against other currencies overseas, dealers said, supported the rupee.Moreover, domestic equities jumped, fuelling the uptrend.

The rupee had lost 15 paise to close at a fresh 30-month low of 68.72 against the U.S. dollar in Thursday’s trade on fresh demand for the American currency from banks and importers in view of a persistent fall in domestic shares amid foreign capital outflows.Meanwhile, the benchmark BSE Sensex rebounded 251.91 points, or 1.09 per cent, to 23,227.91 in early trade on Friday.

Source: thehindu.com

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