Rupee recovers by 5 paise to 45.88/89 against USD

Mumbai, November 30: Overcoming early weakness, the Indian rupee gained 5 paise to 45.88/89 against the US dollar today on the back of firm domestic equity markets and dollar selling by exporters.

At the Interbank Foreign Exchange, the rupee opened lower at 45.98/99 per dollar against the previous close of 45.93/94.

During intra-day trade, the rupee fell below the 46 per dollar mark for the first time since September 17, 2010, to touch a low of 46.12.

However, in line with the smart rebound in local equities, the rupee bounced back later to settle at 45.88/89, slightly better than its previous close.

The Bombay Stock Exchange (BSE) benchmark Sensex, which was down by nearly 187 points in early trade today, recovered after the release of good Gross Domestic Product (GDP) data and ended up by 116.15 points, or 0.60 per cent.