Rupee recovers against dollar

The rupee gains modestly against the dollar in early trade on exporter dollar sales and fairly good FII inflows.

The rupee recovered modestly against the US currency during morning trade on Monday on exporter dollar sales and fairly good FII inflows into equity markets.

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In moderately active trade at the Interbank Foreign Exchange (forex) market, the Indian unit opened on a promising note at Rs 45.88/90 per dollar from last week's close of Rs 45.90/91 a dollar and later improved to Rs 45.8750/8850 a dollar in late morning deals.

"Exporter dollar sales and increased dollar supplies helped rupee recover slightly," forex dealers said.

In the overseas markets, the dollar ended mixed against its major rivals on Friday, edging slightly up against the yen and slipping against the euro in New York.