Mumbai, Oct 23 (PTI) The Indian rupee today recovered 24 paise at 46.50/51 against the US currency on the back of some stability in equities amid a weak dollar overseas.
Forex dealers attributed the rupee recovery mainly to dollar weakness in the international markets due to rise in equities across the globe.
In active trade at the Interbank Foreign Exchange (Forex) market, the domestic currency initially touched a high of 46.40 a dollar following a smart gain of over 217 points in the Indian benchmark Sensex in morning trade.
But selling after mid-session erased major part of its gain and the 30-share index closed up by a mere 21 points, or 0.13 per cent, despite smart revival in global equities.
The rupee later moved in a range of 46.40 and 46.62 in line with the stock movements before concluding the day at 46.50/51.
Source : PTI