Rupee recovers by 19 paise against dollar.

The rupee today recovered by 19 paise to 53.77 against the US dollar in early trade after dipping to 54.13 at the outset on the Interbank Foreign Exchange, largely on the back of selling of the American currency by some banks and exporters.

Dealers said selling of the US currency by some banks and exporters, helped the rupee to recover from record low but dollar's gains against other Asian currencies and the euro, which slumped to a four-month low in view of fresh euro-zone worries capped the gains.

The rupee had lost 33 paise to close at all-time low of Rs 53.96 against the dollar in yesterday's trade after inflation rising to 7.23 per cent in April dampened investor sentiment.

Meanwhile, the BSE benchmark index Sensex fell by 92.80 points, or 0.57 per cent, to 16,123.04 in opening trade today.

Source : indianexpress.com