Indian rupee recovers by 8 paise against US dollar, at 59.93

The Indian rupee recovered by 8 paise to 59.93 against the US dollar in early trade at the Interbank Foreign Exchange market on increased selling of the American currency by exporters.

Forex dealers said strengthening of the euro and yen against the dollar in overseas market and a higher opening in the domestic equity market also supported the rupee.

The Indian currency had lost 29 paise, its biggest drop in nearly three weeks, to close at 60.01 against the dollar on on rising demand for the US currency from custodian banks.

Meanwhile, the BSE Sensex rose by 90.36 points, or 0.34 per cent, to trade at a new high of 26,190.44 in opening trade on Tuesday.PTI