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The rupee clawed back some lost ground on Wednesday, gaining 27 paise to settle at 72.12 against the US dollar, in line with a recovery in domestic equities. At the interbank foreign exchange market, the rupee opened at 72.20 a dollar, and advanced to a high of 71.96 during the day. It finally settled at 72.12, up 27 paise over its previous close of 72.39.
Forex traders said the currency gained following weakness in the US dollar. The dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.35 per cent to 98.65, weighed down by weak factory activity in the US, which shrank in August for the first time since August 2016. On Tuesday, the rupee dropped by 97 paise to an over nine-month low of 72.39 a dollar.
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