Mumbai, India (BBN) – Indian rupee recovered from early lows to 65.48 per dollar, still down by 18 paisa, in late morning trade amid bearish domestic equities.
The rupee opened sharply lower by 27 paisa at 65.57 per dollar against Tuesday’s closing level of 65.30 at the Interbank Foreign Exchange (Forex) Market here today, reports The Hindu Business Line quoting PTI.
The domestic unit fell further to 65.58 per dollar before quoting at 65.48 per dollar at 11:25am local time.
The domestic currency hovered in a range of 65.58 to 65.47 per dollar during morning deals.
Meanwhile, the dollar index was trading higher by 0.09 percent at 99.85 against a basket of six currencies.
The dollar, however, struggled near a four-month low against the yen as a bout of investor risk aversion hit US stocks and sent US Treasury yields sharply lower, eroding the greenback’s interest rate allure.
Meanwhile, the benchmark Sensex was trading down by 240.84 points or 0.82 per cent at 29,244.61.