Mumbai: After falling for successive days, the rupee has recovered today. The Indian currency has strengthened by 20 paise to 71.38 against the US dollar in opening trade at the interbank foreign exchange market Wednesday on fresh foreign capital inflows. Also Read - Market News Today: Rupee Falls 5 Paise at 74.98 Against US Dollar; Sensex, Nifty Fall Flat
The rupee touched an all-time low of 71.58 on Tuesday after it lost 37 paise, as trade war tension and macroeconomic concerns continued to bother investors. Also Read - Stock Market News Today: Indian Rupee Rises 7 Paise Higher at 75.58 Against US Dollar, Sensex Falls 400 Points
A positive start of local equity market also supported the rupee, dealers told PTI. Also Read - Sensex Shoots Over 900 Pts on Day 1 of 'Unlock', Nifty Tops 9,800 in Early Trade
However, the dollar’s strength against some currencies overseas as the lingering threat of a major escalation in the trade conflict between the US and China, capped the gains of the domestic unit.
Foreign institutional investors (FIIs) bought shares worth a net of Rs 32.64 crore on Tuesday, provisional data showed.
Meanwhile, the benchmark BSE Sensex recovered 76.85 points, or 0.20 per cent, to 38,234.77 points in early trade.
(With PTI Inputs)