rupee recovers

The Indian rupee recovered by 38 paise to 73.74 per US dollar in Friday’s early trade in the foreign exchange market after the prices of crude oil reduced globally.

Besides, the greenback’s weakness against some overseas currencies helped the recovery in the domestic currency.

In the global market, the Brent crude lost 3% to trade at 80.37 per barrel.

Also, a higher opening in the equity benchmark market supported the rupee’s sentiment said forex dealers.

The rupee, after striking a lifetime low of 74.50 per dollar on Thursday, rebounded 9 paise to close at 74.12 against the greenback.

Meanwhile, the domestic stock markets opened on a green note in Friday’s trade session.

The BSE Sensex traded 34,378.27, recovering 377.12 points or 1.11% while the NSE Nifty50 gained 115.55 points or 1.13% to trade at 10,350.20.