Rupee off 7-week lows as exporters step in

The rupee clawed back from seven-week lows on Wednesday afternoon as exporters cashed in their dollars.

* At 1:40 pm, the rupee was at 50.47/48 to the dollar, just off the day's strongest level of 50.46 and off 50.76, a level last seen on January 18, hit in early trade.

* A further recovery in the rupee is unlikely because of choppy equities and weak global risk sentiment, traders said.

* Dollar demand from oil and gold importers could also halt the rebound in the rupee, which closed at 50.36/37 on Tuesday.