The Rupee Recovered From Its 16 Month Low To Trade 12 Paise Higher

The rupee recovered from its 16-month low to trade 12 paise higher at 67.99 against the US dollar in early session today, after opening 10 paise higher, on fresh selling of the dollar by exporters and banks.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee.

Further, investor sentiment turned positive on easing trade woes between the US and China leading to a higher opening of the domestic equity market, boosting the domestic unit, they added.

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