Mumbai: The rupee recovered from initial losses and settled at the overnight closing level of 62.07 against the dollar today after a late bout of sales by exporters as the US currency weakened overseas.
Fresh capital inflows after three days of outflows and a late recovery in local equities also helped the rupee. At the interbank foreign exchange market, the local currency resumed lower at 62.22 a dollar from the previous close of 62.07 and declined to a low of 62.24 as domestic equities declined.
It rebounded to a high of 61.9650 on late dollar selling by exporters before ending at 62.07. Yesterday, it had gained 23 paise to a one-week high.
The benchmark 30-share S&P BSE Sensex fell 16.01 points today. Overseas investors bought a net 27.07 million of shares yesterday, as per Sebi data.
