Following with the domestic equity market, the Indian rupee on Wednesday recovered a major part of its early losses to close at 50.18/19 against the greenback, snapping three sessions of rally. At the Interbank Foreign Exchange (Forex) market, the rupee resumed sharply lower at 50.40/42 a dollar from its earlier close of 50.04/05.
Later, it touched a low of 50.70 a dollar as the benchmark Sensex was down by nearly 3.45 per cent in late morning deals. Moreover, a stronger dollar against its major rivals also weighed on the rupee. But, a sharp turnaround in the Sensex to settle the day up by1.97 per cent, helping the rupee to bounce back from the day''s low and it touched a high of 50.16. It ended at 50.18/19 a dollar.
Later, it touched a low of 50.70 a dollar as the benchmark Sensex was down by nearly 3.45 per cent in late morning deals. Moreover, a stronger dollar against its major rivals also weighed on the rupee. But, a sharp turnaround in the Sensex to settle the day up by1.97 per cent, helping the rupee to bounce back from the day''s low and it touched a high of 50.16. It ended at 50.18/19 a dollar.
