Rupee recovers 10 paise against Dollar in early trade

After a weak start, the rupee Tuesday recovered 10 paise to 72.41 against the US dollar amid volatility in early trade on fresh selling of the US currency by exporters and banks.

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The rupee, after opening lower at 72.65 against the US dollar, quickly recovered to trade 10 paise higher at 72.41 at the Interbank Foreign Exchange. 

Besides, dollar-selling by exporters and banks, fall in crude prices in the global market and weakness in the dollar against some currencies overseas amid US-China trade conflict, helped the domestic currency rebound, forex dealers said.

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They said a higher opening in the equity market also supported the recovery in the rupee. The BSE benchmark Sensex recovered by 74.68 points, or 0.19 per cent, to 37,660.19 in opening trade.