The rupee ended strong by 8 paise at 68.04 on fresh dollar selling by exporters and banks.
Forex dealers said besides selling of the American currency by exporters and banks, the dollar’s weakness against other currencies overseas supported the rupee. The rupee sentiment was also buoyed on easing trade woes between the US and China.
The domestic unit recovered from its 16-month low to 67.93 at the interbank foreign exchange market today. It hovered in a range of 68.09 and 67.93 before closing at 68.04 at 5 pm local time.
Yesterday, the rupee had lost 12 paise to close at a fresh 16-month low of 68.12 against the US currency on sustained dollar demand from importers and corporates amid weak global cues.
Meanwhile, the benchmark BSE Sensex ended marginally higher by 35.11 points at 34,651.24.