India, Nov. 24 -- The rupee strengthened on Monday, recovering from record lows to rise 49 paise to 89.17 against the US dollar in early trade, supported by dollar selling by banks and a decline in global crude oil prices.
Forex traders noted that a firm opening in domestic equity markets and intervention by the Reserve Bank of India (RBI) also boosted the currency. The rupee opened at 89.46 per dollar and moved up to 89.17, marking a 49-paise gain from its previous close.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....