The rupee recovered from an over one-month low by rising 11 paise to 61.02 against the American currency in early trade on Tuesday at the Interbank Foreign Exchange (Forex) market on dollar selling by exporters and banks.
Forex dealers said besides fresh selling of the Greenback by exporters and banks, a higher opening in the domestic equity market and dollar’s weakness against other currencies overseas supported the rupee.
The domestic unit had plunged by 48 paise, logging its biggest fall in more than five weeks, to close at over one-month low of 61.13 against the American unit on Monday following demand for the dollar from importers.
Meanwhile, the benchmark Bombay Stock Exchange (BSE) Sensex rose by 44.73 points, or 0.16 per cent, to 26,861.29 in early trade on Tuesday.
—PTI