Besides, weakening dollar against other currencies in overseas market and fresh foreign funds inflows into domestic equity markets also helped the rupee to recover, forex dealers said.
The rupee had tanked by a massive 106 paise to close at all-time low of 60.72 against dollar in yesterday's trade.
Meanwhile, the BSE benchmark Sensex recovered sharply by 201.36 points, or 1.09 per cent, to 18,753.48 in early trade today.
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