The rupee today recovered by 8 paise to end at 64.32 against the dollar on fresh selling of the American currency by exporters and banks in line with strong domestic equity markets. The domestic unit after opening higher at 64.25, moved in a range of 64.33 and 64.23, before settling at 64.32. Dealers said the dollar's weakness against other major currencies overseas after last week's gain also supported the Indian rupee. On Friday, the rupee had lost 14 paise to end at a near two-month low of 64.40. The Reserve Bank of India today fixed the reference rate of the rupee at 64.2838 against the US dollar and 78.9341 for the euro. In cross-currency trades, the rupee's value remained unchanged against the pound sterling, ending at 89.24. The Indian rupee closed at 59.27 per 100 Japanese yen from 59.07 earlier. Meanwhile, the BSE Sensex rallied by 294.71 points, or 0.87 per cent, to settle at 34,300.47 points and the Nifty rose by 84.80 points, or 0.81 per cent, to end at 10,539.75 points today.
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