Rupee recovers 9 paise to end at 72.60

The rupee bounced back after a two-day downtrend and ended higher by 9 paise at 72.60 against the American unit on bouts of dollar selling by exporters with the FOMC rate decision firmly in the spotlight.

Although, the home currency managed to pull back towards the tail-end trade after initial wobbliness despite international crude prices ruling at their highest in nearly four years.

It traded in the tight range of 72.53 and 72.75 most part of the day.

The rupee had depreciated by 49 paise in last two days.

At the inter-bank foreign exchange (forex) market, the rupee started with a mild negative bias at 72.70 against the American unit on stray month-end dollar demand from importers.

It weakened further to hit a session low of 72.75 in mid-morning deals.

The Indian unit came off lows to trade in positive terrain in late afternoon session and touched a near one-week high of 72.53 before ending the day at 72.60, showing a gain of 9 paise, or 0.12 per cent.