The rupee recovered by 7 paise to 44.83 against the American currency in the early trade today on mild selling of dollar by banks and exporters.
The domestic unit resumed higher at Rs 44.85/86 per dollar at the Interbank Foreign Exchange market against yesterday’s close of Rs 44.90/91 per dollar. It hovered in range between Rs 44.83 and Rs 44.91 before quoting at 44.89/90 per dollar at 10.15 a.m.
The euro fell to a three-week low against the US dollar in New York yesterday before bouncing back as officials expressed confidence that Greece will receive the funding it needs in the near term.