The rupee recovered from its record low by rising 20 paise to 68.58 against the US dollar on fresh selling of the American currency by banks and exporters.
The Indian currency had yesterday breached the 69-mark but covered lost ground to finally close at an all-time low of 68.79 with a fall of 18 paise against the US dollar due to multiple headwinds like weak global cues and concerns related to inflation and fiscal slippage.
Selling of dollars by banks and exporters today made the greenback weak against some currencies overseas, which supported the rupee, forex dealers said.
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