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Rupee recovers 38 paise against USD

Prime News, National, Business, Mumbai, August 20:- The rupee today recovered from its all-time low by rising 38 paise to Rs 69.77 against the US dollar in early trade at the Interbank Foreign Exchange market on fresh selling of the greenback by exporters and banks ahead of US-China trade talks this week.

Besides, the dollar weakened against other currencies overseas as demand for the safe-currency receded on optimism over a reduction in US-China trade tensions, helping the domestic currency rebound, forex dealers said.

A higher opening in the equity market also supported the rupee’s recovery, they said.

The BSE benchmark Sensex rallied by 178.77 points, or 0.47 per cent, to quote at an all-time high of 38,126.65 (intra-day) in early trade today. The broader NSE Nifty too breached the 11,500-mark for the first time. (Inputs: Agencies, NGB)

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