A higher opening in the equity market also supported the recovery in the rupee.
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Besides, dollar-selling by exporters and banks, easing crude prices in the global market and weakness in the dollar against other currencies overseas, helped the domestic currency rebound, forex dealers said.
A higher opening in the equity market also supported the recovery in the rupee, they said.
The rupee Tuesday slid further by 47 paise to settle at a record low of 72.98 after scaling an all-time low of 72.99 (intra-day) against the US currency due to surging crude oil prices and escalating trade war worries.
Meanwhile, the BSE benchmark Sensex recovered by 142.26 points, or 0.38 per cent, to 37,432.93 in opening trade Wednesday.
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Source: News18