The rupee recovered marginally by five paise at 63.77 against the US dollar in early trade at the Interbank Foreign Exchange market today as the greenback weakened overseas owing to concerns about the lack of progress in Greece’s talks with its creditors on overhauling its bailout terms.
Besides, fresh selling of the US dollar by exporters supported the rupee.
The rupee had depreciated by 12 paise to close at 63.82 against the American currency yesterday owing to robust dollar demand from importers amid steep losses in local equities after RBI took a cautious stance on the economic recovery and hinted there may not be more cuts in the near term.
It was a mixed open for the Sensex and the Nifty due to weak Asian cues. The Nifty opened four points down at 8,232, whole the Sensex opened 43 points up at 27,231.
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