Rupee recovers by 11 paise against dollar in early trade

The rupee recovered by 11 paise to 67.92 against the US dollar in opening trade on Wednesday at the Interbank Foreign Exchange on fresh selling of the American currency by exporters and banks amidst higher opening in the domestic equity market.

Forex dealers said that besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee.

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Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.

On Tuesday, the rupee fell by 16 paise to hit a two-week low of 68.03 against the American currency, following a sudden rise in the dollar's value against other global currencies.

Meanwhile, the benchmark BSE Sensex was trading higher by 86.16 points, or 0.32%, at 26,394.14 in early trade on Wednesday.