Rupee managed to cut down on the losses initially to a great extent but the prices are still trading lower against the USA greens today early on in the trade as the recovery was being bolstered by bearish trades overseas despite some good demand for dollar.
The rupee opened sharply lower at 55.70 per dollar as against the previous closing level of 55.63 at the Interbank Foreign Exchange ( Forex) market.
It moved in a range of 55.64 and 55.76 in late morning deals before quoting 55.65 per dollar at 1100 hours, down 2 paise over its last close.
In the international market, the US dollar extended losses against the Japanese yen yesterday.
Meanwhile, the BSE-30 share barometer sensex was trading higher by 152.06 points, or 0.77%, quoting 19,856.39 at 1100 hours.
Source: TOI Business