Rupee Jumps 21 Paise To 77.50 Per Dollar, Recovering From Record Low

The rupee recovered from its record low to close 21 paise higher at 77.50 against the American currency on Wednesday

The rupee recovered from its record low to close 21 paise higher at 77.50 against the American currency on Wednesday as dollar sales by some banks offset the impact of elevated crude oil prices and persistent foreign fund outflows.

At the interbank forex market, the rupee opened at 77.58 against the greenback and moved in a range of 77.51 to 77.62 in the day's trade.

The rupee finally ended at 77.50, higher by 21 paise over its previous close.

On Tuesday, the rupee had declined by 17 paise to close at its all-time low of 77.71 as surging US bond yields dampened the appeal of riskier assets.