Economy has never been a strength of the Indian rupee and the two major economic releases underscored that point. Industrial production contracted during month of February and exports growth too registered a de-growth over the month of March.
MUMBAI, April 17 (Reuters) - The Indian rupee recovered in late trade on Thursday, boosted by gains in the domestic sharemarket while some dealers also cited dollar selling by large state-run banks which could be on behalf of the central bank.
The Indian rupee opened flat at 60.29 per dollar versus 60.37 Wednesday. The yen wallowed at one-week lows against the dollar, having eased broadly overnight as a rally in global stocks dented demand for the safe-haven currency.