India, Dec. 4 -- The rupee recovered from its all-time low on Thursday, rising 19 paise to close at 89.96 against the US dollar, supported by a softer dollar index and reports of possible intervention by the Reserve Bank of India.
According to forex traders, the US dollar weakened after ADP non-farm payroll data came in sharply below expectations, which helped the rupee stabilise at lower levels.
Earlier in the session, the domestic currency opened weak and slipped to a fresh lifetime low of 90.43, pressured by foreign fund outflows and elevated crude oil prices. The delay in announcing the India–US trade deal also weighed on market sentiment.
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