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Rupee Revives From Life-Time Low, Up 20 Paise Against US Dollar

The Indian Rupee recovers from its life-time low of 71.58 to log 71.38 in the opening trade at the Interbank Foreign Exchange Market today on account of fresh foreign capital inflows

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The rupee recovered from its all-time low of 71.58 and strengthened by 20 paise to 71.38 against the US dollar in opening trade at the interbank foreign exchange market today on fresh foreign capital inflows.

The domestic currency had lost 37 paise to end at a fresh lifetime low of 71.58 against the resurgent dollar yesterday as persistent trade worries and macro concerns continued to proliferate.

A positive start of local equity market also supported the rupee, dealers said. However, the dollar's strength against some currencies overseas as the lingering threat of a major escalation in the trade conflict between the US and China, capped the gains of the domestic unit.

Foreign institutional investors (FIIs) bought shares worth a net of Rs 32.64 crore yesterday, provisional data showed.

Meanwhile, the benchmark BSE Sensex recovered 76.85 points, or 0.20 per cent, to 38,234.77 points in early trade.