A higher opening in the domestic equity market and a weak dollar against some currencies overseas also supported the gain in rupee, forex dealers said.
Mumbai: The rupee recovered from Wednesday's slump to end at 60.88 against the dollar on Thursday.
The Rupee had been gaining strength since Thursday morning to recover by 12 paise to 61.18 against the dollar in early trade at the Interbank Foreign Exchange following dollar selling by exporters and banks.
A higher opening in the domestic equity market and a weak dollar against some currencies overseas also supported the gain in rupee, forex dealers said.
The rupee had tumbled 53 paise to a fresh closing low of 61.30 against the dollar in Wednesday's trade on renewed dollar demand from importers and bearish local stocks.
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