Mumbai, Jan 9: The Rupee on Wednesday recovered by six paise to 70.14 in early trade on fresh selling of US Dollars by bankers and exporters, dealers at Forex Market said.
Weak dollar against major global currencies overseas and a positive opening in stock market pushed the equity market up, they added.While rising crude oil prices and foreign fund outflows capped the rise.
The rupee opened strong at 70.08 at the interbank forex market against previous close of 70.20 per dollar amid sustained foreign fund inflows .The local unit recorded intra day high and low at 70.46 and 70.08 respectively.
Rupee on Tuesday plunged by 52 paise to close at 70.20 against the US dollar amid renewed concerns over widening of current account deficit following constant rise in global crude oil prices. UNI