The rupee recovered from its record low and rose by 49 paise to 89.17 per dollar in early trade on Monday amid softening global crude oil prices. Rupee opened at 89.46 against the dollar. Then it reached 89.17 per dollar which shows an increase of 49 paise from the previous closing price.
The rupee on Friday fell 98 paise to close at its all-time low of 89.66 per dollar due to heavy demand for the dollar in the domestic foreign exchange market amid widespread selling pressure in local and global stock markets and trade uncertainties.
Meanwhile, the dollar index, which gauges the US dollar’s position against six major currencies, edged up marginally by 0.01 per cent to 100.18. In the domestic stock markets, Sensex rose by 218.44 points to 85,450.36 points in early trade and Nifty rose by 69.4 points to 26,137.55 points.
International standard Brent crude fell 0.10 percent to $ 62.50 per barrel. According to stock market data, foreign institutional investors (FIIs) were sellers on Friday and sold shares worth a net Rs 1,766.05 crore.
