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Rupee recovers 19 paise from record low of 72.91 against dollar

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Mumbai: The Indian rupee recovered from the day’s low to trade around 72.50 per dollar during the afternoon session on Wednesday. Around 1.45 p.m., the rupee traded at 72.50 per dollar, appreciating by 19 paise from its previous close of 72.69 per greenback.

Earlier in the day, it hit a new record low of 72.91 per dollar, weighed down by inflationary concerns and amid weakness in global currencies against the dollar. The market would focus on the country’s Index of Industrial Production and Consumer Price Index data to be released later in the day, analysts said.