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Rupee recovers, opens 27 paise higher against US dollar

The domestic unit skidded by 16 paise on Tuesday to settle at 71.44 amid strengthening of the greenback and heavy selling in domestic equities.

rupee

The rupee opened 27 paise higher at 71.17 against the US dollar on Wednesday amid fall in Asian equities and flat crude oil prices. In the previous session, prices of crude oil futures slumped 2 per cent on concerns over global growth.  The domestic unit skidded by 16 paise on Tuesday to settle at 71.44 amid strengthening of the greenback and heavy selling in domestic equities. Rupee consolidated in a narrow range of 71.00 and 71.40 for the sixth successive session on Tuesday despite volatility in global crude oil prices. On the other hand, dollar against its major ...