Indian rupee recovers by 17 paise against US dollar

The Indian rupee recovered by 17 paise to 52.84 against the US dollar on Tuesday on fresh selling of the American currency from banks in view of persistent foreign capital inflows into equity market.

The rupee resumed slightly higher at 53 a dollar, against the last closing level of 53.01 at the Interbank Foreign Exchange (Forex) Market. It moved between 53 and 52.83 per dollar, before quoting at 52.84 at 10.40 am.

Sustained foreign capital inflows into equity market mainly boosted the rupee value against the dollar, a forex dealer said.

In New York market, the US dollar had made slight gains on Monday against other currencies.

The BSE Sensex was trading 55.24 points, or 0.30 per cent, down in afternoon trade at 18,658.31.

With inputs from PTI