The rupee rebounded from its all-time low by gaining 63 paise to 72.35 against the US dollar on fresh selling of the US currency by exporters and banks.
According to forex dealers, easing crude oil prices and dollar’s weakness against other currencies overseas helped the domestic currency rebound. The rupee sentiment was also supported by a firm equity market.
The domestic unit opened strong by 26 paise at 72.72 at the interbank forex market today. It hovered in a range of 72.87 and 72.35 before closing at 72.37, up 61 paise at 5 pm local time.
On Tuesday, the rupee had ended weak by 47 paise at a record low of 72.98 after scaling an all-time low of 72.99 (intra-day) against the US currency due to surging crude oil prices and escalating trade war worries.
Meanwhile, the Sensex ended the session down by 169.45 points or 0.45 per cent at a near two-month low of 37,121.22 as cautious investors trimmed their portfolios, ignoring positive global cues and a recovery in rupee.