Rupee up by 29 paise against US$

At the Interbank Foreign Exchange (Forex) market, the Indian currency, which closed at 49.88 on Monday, recovered by 29 paise at 49.59 against the greenback.

The Indian rupee on Wedenesday recovered by 29 paise at 49.59 per US$ in early trade as dollar weakened against other Asian currencies amid recovery in the equity markets.

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At the Interbank Foreign Exchange (Forex) market, the Indian currency, which closed at 49.88 on Monday, recovered by 29 paise at 49.59 against the greenback.

The stock markets on Tuesday commenced trading on a high and positive note with the benchmark Sensex recording over 498 points gain during the hour-long 'muhurat' trading.