Mumbai, November 18: The Indian Rupee today snapped out of the four-sessions of losing spree and recovered moderately by nine paise to close at Rs 45.22/23 against the US currency following late rebound in local equities amid a weaker dollar overseas.
Good dollar demand from importers, mainly oil refiners, after mid-session too supported the rupee’s rise.
In a fairly active trade at the Interbank Foreign Exchange (Forex) market, the local unit opened weak at Rs 45.44/45 a dollar from Tuesday’s close of Rs 45.31/32/ a dollar. Yesterday, the market was closed for “Bakri-Id”.
It later touched a fresh 2-month intra-day low of 45.58 in line with steep fall in equities where the benchmark Sensex was down by nearly 250 points in mid-morning trade.
But, the Indian currency recovered in the latter part of the day to log a high of 45.2075 before concluding at 45.
–Agencies