Rupee recovers on dollar selling by custodian banks

The rupee recovers some losses after dollar selling by custodian banks.

The Indian unit trades at 61.4450 after falling to 61.55 earlier in the day, versus 61.35/36 previous close.

Dollar index at 3-1/2 week high after Fed's optimistic economic view.

Fed says rates will remain low for a "considerable time."

Most Asian currencies trading weaker against the dollar.

The Nifty is up 0.8 percent.

(Reporting by Gaurav Pai)