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The rupee on Wednesday recovered by 13 paise to close at 68.83 against the US dollar amid sustained buying by foreign investors in domestic equity markets and lower crude prices.
However, the local currency remained cautious ahead of the US Federal Reserve policy decision on Wednesday.
Brokers said foreign fund inflows in the debt and equity markets helped the rupee recover. However, the dollar’s strength overseas capped the gain, they added.
At the Interbank Foreign Exchange (forex), the domestic currency opened lower at 69.11 a dollar and gained to touch the day’s high of 68.72. It finally settled at 68.83 per dollar, up 13 paise over its previous close.
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