Rupee recovers from record low, spurts 20 paise to 77.51 per U.S. dollar

On Tuesday, the rupee had declined by 17 paise to close at its all-time low of 77.71 against the United States currency

The rupee on Wednesday recovered from its record low to close 20 paise higher at 77.51 (provisional) against the American currency.

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 77.51, higher by 20 paise over its previous close.

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

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.15% to 101.90.

Brent crude futures, the global oil benchmark, surged 1.84% to $117.73 per barrel.

"Rupee continued to trade in a narrow range and volatility remained low despite marginal weakness in domestic and global equities," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.