Mumbai: The Indian rupee recovered early losses on Friday afternoon but still traded weaker than the previous close, tracking local share prices.
At 2:55pm, the partially convertible rupee was at Rs48.05/06 per dollar, off an early low of Rs48.31, its lowest since 16 September, but still weaker than Thursday’s close of Rs47.95/96.
Share prices were trading 0.6% weaker. The main share index had fallen as much as 0.97% in the opening deals, and had briefly turned positive.
The rupee hit an intraday high of Rs47.92 per dollar when the shares had turned briefly positive.
In the currency futures market the most traded near-month contracts were at Rs48.1625 on the National Stock Exchange and MCX-SX, weaker than Thursday’s close of Rs48.0850.