INSUBCONTINENT EXCLUSIVE:
Rupee recovers slightly, after setting new record lows in recent daysThe rupee recovered some of its previous losses on Wednesday, supported
by a rebound in domestic equity markets, after sliding for five consecutive days, during which it hit multiple record lows.While oil prices
climbed further to near $130 a barrel, the rupee, which opened at 76.90 per dollar, gained momentum to last trade up about 20 paise at
76.795, as per Reuters.While the Press Trust of India reported that the rupee rebounded 44 paise to close at 76.56 (provisional) against US
dollar.Forex traders at the start of the day had said the rupee could remain range-bound and witness high volatility amid the deepening
Russia-Ukraine conflict.According to PTI, the energy-sensitive rupee depreciated by seven paise to close at a lifetime low of 77 against the
several record lows in recent days would weigh on India's import bill, as the country depends internationally for about 80 per cent of its
up 1,223 points to close at 54,647, while Nifty ended near 16,350.
