Mumbai, April 16: Recovering from initial losses, the rupee today closed 11 paise higher at 44.32/33 against the US currency on a late dollar selling by exporters.
The domestic unit had fallen to a low of 44.58 in early stages on good demand for the US currency from banks and corporates on the back of higher dollar overseas.
Weakness in local as well as other Asian equities too weighed on the rupee, dealers said. The Indian benchmark Sensex was down by nearly 110 points immediately after the onset of business.
Dollar selling by exporters, later, helped the rupee to conclude the day at 44.32/33 a dollar. Late recovery in the stock market also partly helped rupee post gains.
Meanwhile, global crude oil prices were trading below USD 85 a barrel in London today.
—Agencies