Rupee recovers from record low, rises 21 paise to 86.49 against US dollar in early trade

MUMBAI: The rupee rebounded from its lowest-ever level and appreciated 21 paise to 86.49 against the US dollar in early trade on Tuesday on the back of retreating American currency and easing crude oil prices.

According to forex traders, the Indian currency found support from positive inflation numbers and some recovery in domestic equity markets even though the outflow of foreign funds continued to play a negative role.

At the interbank foreign exchange, the rupee opened at 86.57 and pared further losses to trade at 86.49 against the greenback in initial deals, 21 paise higher from its previous close.