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The rupee recovered from its all-time low of 69.12 on bouts of dollar selling by banks and exporters amid strong domestic equities.
The domestic unit opened strong at 69 against the previous close of 69.05 at the interbank forex market today. It hovered in a range of 69.12 and 68.82 before ending at 68.85, up 20 paise at 5 pm local time.
The rupee is under pressure due to rising crude oil and higher inflation, while sustained capital outflows by foreign institutional investors from the domestic equity and bond market also pressured the sentiment.
Overseas, the US dollar slightly lower against its major peers in early Asian trade, was on the defensive against the yen and euro after US President Donald Trump expressed concern about the currency’s strength and the Federal Reserve’s interest rate increases.
Meanwhile, the Sensex ended higher by 145.14 points or 0.4 per cent at 36,496.37.
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