Rupee recovers after initial losses vs dollar, up 13 paise

Paring initial losses, the rupee today recovered by 13 paise to 52.72 against the US dollar in late morning trade on fresh selling of the American currency from banks despite firm cues overseas.

The rupee resumed lower at 53 per dollar as against the last weekend's 52.85 per dollar at the Interbank Foreign Exchange ( Forex) Market due to good demand from banks on the back of higher dollar in overseas market.

However, it recovered afterwards to 52.72 per dollar in the late morning trade on selling of dollars from banks.



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