ET:Rupee off lows on euro rebound & dollar inflows
MUMBAI: The Indian rupee recovered from its intraday low in afternoon trade on Monday aided by a pullback in the euro and some corporate dollar inflows, traders said.
At 2:19 p.m., the partially convertible rupee was 49.23/24 per dollar, weaker than Thursday's close of 48.97/98, but stronger from 49.57 touched in early trade.
The euro was at $1.3365, after touching a low of $1.3314 earlier. It had been at $1.3614 at the end of rupee trade last Thursday. The domestic currency market was closed on Friday for half-yearly closing of banks' accounts.
The index of the dollar against six major currencies was at 78.886 points from 77.721 previously.
Traders said further recovery in the rupee may be limited as risk appetite continues to be low globally due to lack of clarity on a resolution of Europe's debt crisis.
